Market Verdict on Iron Ore: · Iron ore short-run neutral. Macro · The number of non-agricultural employment in the United States increased by 850,000 in June, which was larger than expected at 720,000. Last number 559,000. The U.S. unemployment rate in June was 5.9%, estimated at 5.6%, previous 5.8%. Iron Ore Key Indicators: · Platts62 …
Category archives: Ferrous
London Iron Ore Market Report 02/07/21
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FIS Singapore Iron Ore Derivatives Report 02/07/2021
Market Commentary Iron ore futures were weaker on Friday amid concerns over China’s demand outlook and rising inflation. The short-term demand of the steelmaking ingredient has hit a snag as China is facing its seasonal lull in demand as construction and manufacturing activities slow in the summer. Recent data also suggest that China’s economic growth …
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Oil and Ore Intraday Morning Technical 02/07/21
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Ferrous trade weekly review 2/7/21
A total of 1.35 million mt of iron ores was traded for the week ended Jul 2, amid reduced steel production for centenary political party celebration in Jul 1. Thus, many trade participants saw the production cut as temporary and will soon resume after the celebration to support higher steel output in early July. During …
Daily DCE Review 2/7/21
Iron ore futures closed the week on slight gains, amid bearish market sentiments of low steel demand and high port inventory. The futures of Dalian Commodity Exchange (DCE) for September delivery then rose slightly by 0.77% day-on-day or up RMB 9 to RMB 1,182.50/mt at the close of day trading session on Friday. The rebar …
Steel & Scrap Morning Report 01/07/21
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Iron Ore DCE Sep Daily Technical Review 2/7/21
Verdict – Short-term neutral. DCE iron ore September contract tested low, however which was higher than the lower bound of consolidation range. Thus iron ore maintained in the consolidation range. Iron ore started to rebound during the last two hours, however volume was small. Iron ore technically consolidate in narrower range bounds. Hourly slow stochastic …
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Daily Virtual Steel Mill Report 2/7/21
Market Verdict on Iron Ore: · Iron ore short-run neutral to bearish. Macro · China Caixin PMI 51.3, estimate 51.8, last 52. · IMF predicted U.S. inflation rate will keep above 2%. IMF also predicted U.S. federal will increase interest rate from the end of year 2022 to early 2023. Iron Ore Key Indicators: · …
European Close 01/07/21
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