Category archives: Ferrous

Verdict – Short-term neutral to bearish.   DCE iron ore closed similar with last closing, however market volume and interest decreased. Hourly MACD was narrowing below 0 axis. Hourly slow stochastic KD created gold cross above oversold area. Short-run technical signals were indicating the previous correction was slowing.   The first support is 959.0. The …

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Ferrous Market –    MySteel 45 ports iron ore inventories at 125.01 million tonnes, up 625,100 tonnes w-o-w. Daily evacuation 3.04 million tonnes, down 146,900 tonnes w-o-w. Australia iron ore 58.26 million tonnes, up 705,000 tonnes w-o-w. Brazil iron ore 43.71 million tonnes, up 109,200 tonnes w-o-w. 201 ships at ports, up 23. –    MySteel 14 …

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Ferrous Market –    DCE added BX Steel pelletizing fine, IOC6, Kumba and Ukraine pelletizing fine into deliverable brands. The increase on deliverable iron ores would decrease the market corner chances during and before delivery month. –    Ganggu Construction Steel Inventory: production 4.999 million tonnes, down 27,600 tonnes w-o-w. Mills inventory 5.91 million tonnes, up 345,600 …

Continue reading “Ferrous Daily Physical Review 28/1/21”

Verdict – Short-term bearish.   DCE iron ore corrected and breakdown two support above 1000. A breakdown further on 959.0 level would indicate a mid-run bearish created. The major correction was motivated by new short building positions. Hourly KD created dead cross early in this morning. CCI hourly created the lowest after Dec 29th, 2020. …

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