Iron ore futures slumped further on lower steel demand, amid heavy buildup of iron ore stocks across the value chain. The futures of Dalian Commodity Exchange (DCE) for September delivery then plunged by 7.18% day-on-day or down RMB 59 to RMB 762.50/mt, during the day trading session on Thursday. The rebar futures, also dropped by …
Category archives: Ferrous
Iron Ore DCE Jan Daily Technical Review 19/8/21
Verdict – Short-term neutral to bearish. DCE iron ore January contract opened low and generated a normal gap, iron ore also broke resistance at 777.5, however supported by major 750- 759.0 area. The significant increasing volume and the slight recover during last two hours were indicating iron ore potentially oversold in short-run. Hourly slow stochastic …
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Daily Virtual Steel Mill Report 19/8/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · U.S. FOMC notes indicated to decrease QE within the year 2021. The attendee of the conference said the inflation was caused by labor and supply chain shortage, which was temporarily. However the cost increase by supply chain breakdown was beyond expectation. The new …
London Iron Ore Market Report 18/08/21
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 18/08/21
Iron Ore Market Update Market Commentary Iron ore futures plunged below $150 as investors once again turned their focus to China’s wavering demand after the BHP Group warned against the risks of further steel output cuts. In its commodities outlook report, the Australian miner warned that the “increasing likelihood of stern cuts to steel …
Daily DCE Review 18/8/21
Iron ore futures fell further over subdued steel demand and low restocking activities among mills. The futures of Dalian Commodity Exchange (DCE) for September delivery then fell by 3.73% day-on-day or down RMB 31.50 to RMB 813/mt, during the day trading session on Wednesday. The rebar futures, also dropped by 3.71% day-on-day or RMB 198 …
Morning Steel and Scrap Report 18/08/21
FOB China HRC The index fell by $6/t yesterday (17.8.21) to US$925/t, MTD US$928.36/t. The National Development and Reform Commission said that nine provinces including eastern China’s Jiangsu province showed increasing energy consumption in the first half year, and these regions were asked to make more enforceable measures to meet the energy consumption …
Iron Ore DCE Jan Daily Technical Review 18/8/21
Verdict – Short-term neutral to bearish. DCE iron ore January contract confirmed the bearish trend during this Tuesday and Wednesday. Firstly iron ore broke down the important previous support at 814.0 area, the push back after then was not strong enough to bring a higher closing above 814.0. Hourly MACD widened below 0 axis. CCI …
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Daily Virtual Steel Mill Report 18/8/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · U.S. Federal officials reached agreement that potentially exit part of monetary ease policy in three months if economy presenting positive signs in future. · U.S. Treasury Secretary Yellen said the Biden’s infrastructure and social projects expending bill was the “most important economy projects” …
London Iron Ore Market Report 17/08/21
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