FIS API Blog
Top Steelmaker in South Korea Halts Production on Trucker Strike South Korea’s top steelmaker Posco said it has halted output of some products as a prolonged strike by truck drivers adds more disruption to global supply chains. The Pohang-based company stopped production at its four wire-rod factories and two cold-rolled steel plants as of …
Continue reading “POSCO Halts Some Plants Due To South Korea Trucker Strike 13/06/22”
1. Corex traded Fe62.3% 90kt Newman Fines at $141.4, loading Jul 1 – 10th 2. Corex traded 50kt PB Lump+ 120kt PBF both based on Platts62% June Index + $2, loading Jun 7 -16th
Verdict – Short-term neutral to bearish. Iron ore started to slowly head down after rejected on the strong resistance of 945- 948.0 during the week, DCE saw IO interest around two-year high. Maintaining the view from previous reports, it is hard to expect a big breakthrough given a limited amount of new buyers. Hourly …
Continue reading “Iron Ore DCE September Daily Technical Review 10/06/22”
Market Verdict on Iron Ore： • Neutral. Macro • China May CPI up 2.1% y-o-y, est. 2.2%, last 2.1%. May PPI up 6.4%, est. 6.4, last 8%. • China Customs statistic indicated that during Jan to May 2022, China imported 447 million tons of iron ores, down 5.1%. China imported 95.96 million tons of …
Iron Ore Drops Below $140 With China Virus Fears Resurfacing Iron ore fell for a second straight day in Singapore on signs China’s exit from virus restrictions islikely to be far from smooth. The steel-making ingredient dipped below $140 a ton after Shanghai said it will lock down eight districts this weekend to mass …
Continue reading “Iron Ore Drops As Covid Cases Rebound In Major Chinese Cities 10/06/22”
Verdict – Short-term neutral to bearish. Iron ore rejected by 945- 948.0 area for the fourth day, DCE saw IO interest around two-year high. Maintaining the view from previous reports, it is hard to expect a big breakthrough given a limited amount of new buyers. Hourly MACD narrowed below 0 axis. Hourly CCI corrected …
Continue reading “Iron Ore DCE September Daily Technical Review 09/06/22”
Market Verdict on Iron Ore： • Neutral. Macro • Shanghai port daily containers throughput reached above 95% to pre-pandemic level. However freight rates increased because of shortages on ships. Iron Ore Key Indicators: • Platts62 $147.25, +0.50, MTD $143.57. Seaborne PBF gathered interests after import margin improved significantly. Iron ore seaborne …
Oil prices face big volatility as spare capacity dries up After more than a year of pressure from the United States and other top oil consuming countries, OPEC+ finally agreed to accelerate oil supply increases last week to tame runaway fuel prices and slow inflation. But that will leave producers with very little spare capacity, …
Continue reading “Oil Prices Remain Volatile As Spare Capacity Dries Up 08/06/22”
Verdict – Short-term neutral to bearish. As expected from previous two technical reports, DCE iron ore September contract test high and corrected back after rejected by previous high at 948.0. The return to bull needs to see changing hands, because aggregated open interested has reached the two-year high, indicating new long positions need to confirm …
Continue reading “Iron Ore DCE September Daily Technical Review 08/06/22”
Market Verdict on Iron Ore： • Neutral. Macro • World Bank decreased global economy growth rate by 1/3 to 2.9%. The institute indicated that the growth rate in 2023 and 2024 potentially stay on this level. • Russia is recovering oil export from the port Kozmino by 20%, to satisfy demand from Asian buyers …
