Category archives: Ferrous

Daily FerrousPhysical Review Nov23rd

Ferrous Market – Steelbank Inventory: construction steel inventories 3.92 million tonnes, down 12.67% w-o-w. HRC 1.58 million tonnes, down 8.68%. – Tangshan 8 mills average pig iron pre-tax cost 2446 yuan/tonne, billet after-tax cost 3181 yuan/tonne, up 2 yuan/tonne. Gross profit 449 yuan/tonne, up 48 yuan from last week. – Peru Mining statistic indicated iron ore September production at …

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European Close 20/11/20

Iron ore had been looking vulnerable earlier in the week with the daily candles for the last 3 day’s closing higher but lacking any real momentum with the candles producing small bodies.   The technical aspect of the market looks like it could exhaust soon; however, rising steel prices, a small easing in the stockpiles and …

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Good restocking activities before winter season

A total of 2.68 million mt of iron ores was traded for the week ended Nov 20, nearly doubled week-on-week, as compared to 1.82 million mt recorded last week. The high transaction volume was attributed to active restocking activities that typically occurred at the second half of November ahead of the winter season. PBF had …

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DCE closes the week on gain from steel rally

Iron ore futures ended the week on gains, after a late session rally driven by good steel margins and prices. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange went up by 1.72 % or RMB 15 day-on-day to RMB 887.50/mt on Friday. The steel rebar contract on the Shanghai …

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Iron Ore DCE January Daily Technical Review Nov 20th

Verdict – Short-term neutral to bullish. DCE iron ore Jan contract created yearly high again during the day. A correction above 874.0 should be consider as a normal correction and market remain bullish. At the same time, DCE iron ore may contract was weaker since the long jan-may arbitraging. The key driver of ferrous growth …

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Daily Ferrous Physical Review Nov 20th

Ferrous Market –    MySteel 45 ports iron ore inventories at 127.51 million tonnes, down 263,000 tonnes w-o-w. Daily evacuation 3.22 million tonnes, up 49,200 tonnes w-o-w. Australia iron ore 59.88 million tonnes, up 111,500 tonnes w-o-w. Brazil iron ore 41.61 million tonnes, up 578,900 tonnes w-o-w. 129 ships at ports, down 1 w-o-w. –    Mysteel …

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