Daily DCE Review 26/7/21

Iron ore futures started the week on firmer note, after recovering from last week slump due to steel output restriction. The futures of Dalian Commodity Exchange (DCE) for September delivery then rose slightly by 0.89% day-on-day or RMB 10 to RMB 1,136.50/mt during the day trading session on Monday. The rebar futures also went up …

Iron Ore DCE Sep Daily Technical Review 26/7/21

Verdict – Short-term neutral. DCE iron ore September rebounded slightly and overall stablised as predicted on last Friday. A breakthrough on 1161.5 would lead iron ore into a short-run bullish market. However a rejection on the intra-day high again would mean iron ore need more time to consolidate. Hourly MACD was running in stable mode …

Daily Virtual Steel Mill Report 26/7/21

Market Verdict on Iron Ore: ·         Iron ore short-run neutral. Macro ·         According to Bloomberg’s survey of economists, it is expected that the Federal Reserve will begin to reduce its asset purchase plan next year, focusing on mortgage-backed securities. ·         The strong typhoon landed on east China caused coastal area transportation stoppage and port closure. …

FIS Singapore Iron Ore Derivatives Report 23/07/21

Market Commentary Iron ore futures remained subdued as investors cast doubt over the steel demand outlook. Iron ore plunged as much as 9% this week as China stepped up efforts to rein in its steel sector. According to Mysteel, Steelmakers in Jiangsu, Fujian and Yunnan were asked to reduce output from last year’s level. At …

Ferrous trade weekly review 23/7/21

A total of 510,000 mt of iron ores was traded for the week ended Jul 23, much lesser than the 1.25 million mt of iron ore traded last week, as market was affected by output cuts. There was less demand for raw materials after the Chinese authority asked various steelmakers in Jiangsu, Fujian and Yunnan …