Category archives: Ferrous

Iron Ore DCE May Daily Technical Review 22/1/21

Verdict – Short-term neutral to bearish DCE iron ore corrected during the day and iron ore had entered a narrower consolidation range since the first day of January. Major range in 1035.5- 1084.5. Hourly MACD dead cross. Hourly slow stochastic KD created dead cross below overbought area. CCI slumped from monthly high to weak area …

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Daily DCE Review 21/1/21

Iron ore futures opened low and closed higher at the afternoon session, amid market concerns over cyclone development in Australia. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) then rose slightly by 0.90% day-on-day or RMB 9.50 to RMB 1,061/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange …

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Ferrous Daily Physical Review 21/1/21

Ferrous Market –    MySteel Rebar Inventory: Rebar production 3.445 million tonnes, down 0.25% w-o-w. Mills inventory 2.89 million tonnes, up 4.61% w-o-w. Circulation inventory 4.80 million tonnes, up 12.98% w-o-w. –    Ganggu Construction Steel Inventory: production 5.03 million tonnes, down 91,800 tonnes w-o-w. Mills inventory 5.56 million tonnes, up 293,900 tonnes w-o-w. Circulation inventory 6.83 …

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

Verdict – Short-term neutral. DCE iron ore rebounded and closed slight higher than yesterday. The intra-day high still had some distance to next resistance at 1084.5. Iron ore consolidated within a narrower range after the beginning of Jan. Hourly MACD created gold cross. Hourly CCI created new high after Jan 7th. Technical signals were indicating …

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