Daily Virtual Steel Mill Report 18/10/21

Market Verdict on Iron Ore: ·         Neutral. Macro ·         China central bank PBOC held a housing and financial market conference to guide major banks managing the housing related finance and maintain a stable and healthy housing market. Evergrande default risk and spillover was in general controllable. ·         China National Bureau of Statistics: Q3 GDP up …

Daily DCE Review 18/10/21

Iron ore futures extended losses on poor China economic data, which showed a slowdown in industrial activities, due to power crunch. The futures of Dalian Commodity Exchange (DCE) for January delivery then fell by 2.27% day-on-day or down RMB 16.50 to RMB 711/mt, during the day trading session on Monday. The rebar futures also inched …

FIS Singapore Iron Ore Derivatives Report 15/10/21

Market Commentary Iron ore futures failed to rally on Friday as investors assessed the gloomy outlook for the demand in China. Soaring energy costs, power curbs put demand at risk. According to data from the World Steel Association, China’s steel demand is now expected to fall by 1% this year instead of increasing by 3%. …

Ferrous trade weekly review 15/10/21

A total of 2.79 million of iron ores was traded for the week ended Oct 15, a significant rise from previous week due to effect of the weeklong holidays in China. Apparently, restocking activities picked up as Chinese participants returned from holidays, while some trade participants were attracted by reasonable low pricing after much price …

Daily DCE Review 15/10/21

Iron ore futures failed to rally, despite low steel stocks and lesser iron ore supply from Rio Tinto as the miners reduced its annual guidance for 2021. The futures of Dalian Commodity Exchange (DCE) for January delivery then fell slightly by 0.96% day-on-day or down RMB 7 to RMB 723.50/mt, during the day trading session …