Category archives: Ferrous

DCE flattens over market uncertainty

Iron ore futures traded flat on the choppy trading session with bullish opening momentum, but only to ease toward afternoon closing session. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange were flat day-on-day to RMB 876/mt on Tuesday. The steel rebar contract on the Shanghai Futures Exchange then went …

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European Close 23-11-20

Steel margins remains supported at CNY 301; however, the iron ore market has now started to come under pressure with yesterday’s futures closing 1.12 % lower at USD 123.35.  Price dropped from a six year high after BHP flagged near-term downside risks to Morgan Stanley at a roundtable last week. BHP cited a rebound in …

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DCE slides on lower steel prices

Iron ore futures went down on lower steel prices, following the slowdown in Chinese construction activities as winter approached. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange dropped by 1.20% or RMB 10.50 day-on-day to RMB 867.50/mt on Monday. The steel rebar contract on the Shanghai Futures Exchange also …

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Iron Ore DCE January Daily Technical Review Nov 23rd

Verdict – Short-term neutral to bearish. DCE iron ore Jan contract leaked in the first Asian morning session with the biggest one hour trading volume since Nov 6th, indicated the current high became a resistance level. The low of the day was same point as the high in Nov 17th at 861.5. A breakdown on this level …

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