Category archives: Ferrous

Iron Ore Offshore April 21 Morning Technical Comment – 240 Min Chart (rolling contract) 02/03/21

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Daily DCE Review 2/3/21

Iron ore futures rallied at the close of afternoon session, due to market optimism over high steel demand during construction season. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then rose by 1.49% day-on-day or RMB 17 to RMB 1,154.50/mt on Tuesday. The steel rebar contract on the Shanghai Futures Exchange …

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Daily DCE Review 1/3/21

Iron ore futures opened high, but only to dip at afternoon session, due to poorer economic indicators from China. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then dropped by 0.83% day-on-day or RMB 9.50 to RMB 1,132.50/mt on Monday. The steel rebar contract on the Shanghai Futures Exchange also went …

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Iron Ore DCE May Daily Technical Review 1/3/21

Verdict – Short-term neutral. DCE iron ore corrected and price movement were slow after Chinese New Year. The first support on 1089.5 was higher than 1041, which was the lower bound of gap created during the first day after Chinese New Year. However hourly candles created a descending tunnel with lower highs and lows. Hourly …

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