Category archives: Ferrous

Iron Ore DCE January Daily Technical Review Nov 18th

Verdict – Short-term neutral. DCE iron ore Jan contract created both higher highs and higher lows compared to yesterday. However the volatility range became smaller. Iron ore during last three days rebounded with smaller trading volume. From hourly chart, MACD was flattening. Slow stochastic KD was close to the bound of overbought area. If a …

Continue reading “Iron Ore DCE January Daily Technical Review Nov 18th”

Daily Ferrous Physical Review Nov 18th

Ferrous Market –    Ganggu Construction Steel Inventory: production 5.28 million tonnes, up 19,400 tonnes w-o-w. Mills inventory 3.37 million tonnes, down 178,400 tonnes w-o-w. Circulation inventory 7.20 million tonnes, down 729,800 tonnes w-o-w. –    Decmil Group signed 22 million dollar contract with Rio Tinto on the west Pilbara Mesa J miner’s structure and transportation service, …

Continue reading “Daily Ferrous Physical Review Nov 18th”

European close

As expected, the iron ore market has traded up to new highs today with the DCE futures trading up to 861.5 and the Dec offshore trading to a high of USD 122.99. Iron ore is following the steel Rebar that continues to push higher on strong industrial and property data with output in October remaining …

Continue reading “European close”

DCE benefits from high steel prices and margins

Iron ore futures hiked up higher on better steel prices and market optimism on better steel margins and demand. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange booked a gain of 2.64% or RMB 22 day-on-day to RMB 855/mt on Monday. The steel rebar contract on the Shanghai Futures Exchange …

Continue reading “DCE benefits from high steel prices and margins”