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Category archives: Ferrous
Base Morning Intraday Note
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Iron Ore DCE January Daily Technical Review Nov 27th
Verdict – Short-term neutral. DCE iron ore Jan contract created historic high overnight and however lose most of the intra-day gains during the Asian day session. Jan long positions were rolling to May which caused a quick narrow on Jan-May. From hourly chart, MACD is narrowing. Slow stochastic KD created dead cross before noon. CCI …
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Daily FerrousPhysical Review Nov27th
Ferrous Market – Mysteel 64 steel mills seaborne sintered iron ore inventory 17.64 million tonnes. Iron ore inventory turnover in 26 days. – Mysteel steel mills import iron ore inventory 114.45 million tonnes, up 1.9 million tonnes w-o-w. Sintered iron ore daily consumption 3.04 million tonnes, up 29,400 tonnes w-o-w. – MySteel 45 ports iron …
European Close 26/11/20
BHP today reinforced expectations that the current strength in steel demand will extend into 2021. Earlier in the week it was a roundtable with Morgan Stanley and now UBS (Bloomberg). The reiterating of the message seems to be sinking in, with the December contract trading up to a new high of USD 127.64, whilst the …
London Iron Ore Market Report
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DCE lifts by high steel demand
Iron ore futures surged since opening session and closed higher at the afternoon session, amid market optimism for better steel demand. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange went up by 2.11% or RMB 18.50 day-on-day to RMB 897/mt on Thursday. The steel rebar contract on the Shanghai …
Steel & Scrap Morning Report 26/11/20
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Base Morning Intraday Note
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Iron Ore DCE January Daily Technical Review Nov 26th
Verdict – Short-term neutral. DCE iron ore Jan contract attracted 469 million yuan money inflow during the day, while rebar jan evaporated 328 million yuan. Iron ore May contract rebound 1% more than Jan contract due to rolling. However DCE Jan contract still double the positions of May contract. The completion of rolling is expected …
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