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Verdict – Short-term neutral. DCE iron ore January contract gave back most of gains created by last Friday. Hourly MACD weakened. Hourly slow stochastic KD created dead cross below overbought area. Hourly CCI corrected to bearish area from bullish area fast. The short support 735.0 was strong, which used to create a market reversal. However …
Continue reading “Iron Ore DCE Jan Daily Technical Review 23/8/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · U.S. Dollar reached the highest since last November on last Friday. Dollar entered a strong cycle. Iron Ore Key Indicators: · Platts 62% 139.10 (+8.90), MTD 163.36. · Jan -Jul China recycled iron and steel imported 420,500 tonnes. Major import from Japan. SGX …
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Iron Ore Market Update Market Commentary Iron ore rebounded on Friday, but any gains were largely capped as concerns over faltering steel demand linger. Some market participants have likened the uptick to the minimal increase of steel inventories. According to the data published by Mysteel, steel inventories among Chinese steel mills had only …
A total of 950,000 mt of iron ores was traded for the week ended Aug 20, up 25% week-on-week, after a week of price corrections. Iron ore prices continued their correction phrase this week, to the extent of sharp drop to $130.20/mt under Platts assessment of the 62% Fe Iron Ore Index. During the week, …
Iron ore futures inched up for slight gain at day session close, despite experiencing a good rebound at the morning session after a week of trading losses. The futures of Dalian Commodity Exchange (DCE) for September delivery then rose slightly by 0.26% day-on-day or up RMB 2 to RMB 777.50/mt, during the day trading session …
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China National Bureau of Statistics: Excavators production in July 18,357 sets, down 18.4% y-o-y. Jan-Jul total produced 232,633 sets, up 22.7% y-o-y. The year on year growth rate has decrease for consecutive four months. · 500 concrete companies in China indicated last week …
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
FOB China HRC The index fell by $6/t yesterday (18.8.21) to US$919/t, MTD US$927.58/t. Beijing has pushed a “common prosperity” objective to reduce economic inequality, raising risks of an economic slowdown during the regulatory reset. Policymakers said they can counter that risk with monetary and fiscal support. Beijing also plans to add more …
Iron Ore Market Update Market Commentary The rout on iron ore accelerated on Thursday as it plunged below $130 following concerns over Chinese steel demand. Iron ore has taken a heaving beating in the past fortnight as authorities in Beijing tightened controls over steel production in an attempt to reduce emission. These production controls are …
