Iron Ore DCE May Daily Technical Review 1/2/21

Verdict – Short-term neutral to bearish.   DCE iron ore corrected during the day. Iron ore consolidated for most of January. The breakdown on 1005.5 would potentially trigger a big level correction. Hourly CCI created double tops and potentially reach the weak area below -100. Houly MACD was flattening. The short-term signals were indicating an …

Ferrous Daily Physical Review 1/2/21

Ferrous Market –    Australia Pilbara Ports Authority sent a cyclone notice late last week, the cyclone passed by the Hedland port area, which was cleared during weekends. However the cyclone has left the coastal area on Monday, detail impact on delivery to be announced. –    FMG SSF discount expanded to 11% from 10% in January. …

Ferrous Trade Weekly Review 29/1/21

A total of 1,720,000 mt of iron ores was traded for the week ended Jan 29, up 16.22% as compared to previous week. During the week, there were some market concerns over reduced iron ore imports for 2021, as the Beijing policymakers had reportedly planned to reduce Chinese steel production to cut carbon emission. Nevertheless, …