Market Verdict on Iron Ore： – Neutral. Macro – The day before chairman Powell’s important speech, hawkish officials of the Federal Reserve urged to start reducing the Treasury Bond purchase plan. They believe that the plan has become ineffective or even harmful. Iron Ore Key Indicators: – Platts62 $153.35, +3.90, MTD $159.72. – MySteel 45 …
Category archives: Ferrous
London Iron Ore Market Report 26/08/21
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004 US (FL): +1 813 490 6630
Singapore Iron Ore Derivatives 26/08/21
Iron Ore Market Update Market Commentary Iron ore remained supported following an uptick in restocking. According to trade sources, restocking activities have picked up ahead of the peak steel season in September and October. Meanwhile, China’s push to reach its economic targets also added to the gains. According to a front-page article published …
Daily DCE Review 26/8/21
Iron ore futures rallied further on Thursday, recovering loss ground from recent slump, as the steel market entered traditional peak season. The futures of Dalian Commodity Exchange (DCE) for September delivery then inched up by 0.74% day-on-day or up RMB 6 to RMB 816/mt, during the day trading session on Thursday. The rebar futures however, …
Morning Steel and Scrap Report 26/8/21
FOB China HRC The index fell by $2/t yesterday (25.8.21) to US$908/t, MTD US$922.82/t. Cisa member mills reverses early August Crude steel output cuts, increasing output by 4.6pc to 2.1379mn t/day over 11-20 August from 1-10 August. The output was still 1.1pc lower from a year earlier. There are no changes for major …
Daily Virtual Steel Mill Report 26/8/21
Market Verdict on Iron Ore： · Neutral to bullish Macro · S&P 500 and Nasdaq closed on prehistoric high yesterday. Iron Ore Key Indicators: · Platts62 $149.45, +0.85, MTD $160.09. · Brazil Minas Gerais State No. 8 iron ore miner received environment approval by the end of year 2021, and the miner will immediately start …
Iron Ore DCE Jan Daily Technical Review 26/8/21
Verdict – Short-term neutral. DCE iron ore January contract reached 7 day high intra-market, however gave back most of gains. In general iron ore maintained oversold rebound this week. However 844.0 rejected iron six times from hourly chart, which was a strong resistance in short-run. Hourly candles created higher consolidation area, and proved a rebound …
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London Iron Ore Market Report 25/08/21
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004 US (FL): +1 813 490 6630
Singapore Iron Ore Derivatives 25/08/21
Iron Ore Market Update Market Commentary Iron ore remained resilient as investors took bets on China not allowing steel demand to collapse while its economic prospects remain uncertain. According to World Steel Association (WSA), China’s steel production dropped by 8.4% year-on-year to 86.8 million metric tonnes in July as China retched up efforts to …
Morning Steel and Scrap Report 25/8/21
FOB China HRC The index was flat yesterday (24.8.21) at US$910/t, MTD US$923.75/t. People’s Bank of China governor Yi Gang said in a statement that the bank will adjust its credit and loan polices to support small and mid-sized companies. The bank will “increase cash supply modestly to help China’s economy to run …