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Category archives: Ferrous
Morning Steel and Scrap Report 19/08/21
FOB China HRC The index fell by $6/t yesterday (18.8.21) to US$919/t, MTD US$927.58/t. Beijing has pushed a “common prosperity” objective to reduce economic inequality, raising risks of an economic slowdown during the regulatory reset. Policymakers said they can counter that risk with monetary and fiscal support. Beijing also plans to add more …
Singapore Iron Ore Derivatives 19/08/21
Iron Ore Market Update Market Commentary The rout on iron ore accelerated on Thursday as it plunged below $130 following concerns over Chinese steel demand. Iron ore has taken a heaving beating in the past fortnight as authorities in Beijing tightened controls over steel production in an attempt to reduce emission. These production controls are …
Daily DCE Review 19/8/21
Iron ore futures slumped further on lower steel demand, amid heavy buildup of iron ore stocks across the value chain. The futures of Dalian Commodity Exchange (DCE) for September delivery then plunged by 7.18% day-on-day or down RMB 59 to RMB 762.50/mt, during the day trading session on Thursday. The rebar futures, also dropped by …
Iron Ore DCE Jan Daily Technical Review 19/8/21
Verdict – Short-term neutral to bearish. DCE iron ore January contract opened low and generated a normal gap, iron ore also broke resistance at 777.5, however supported by major 750- 759.0 area. The significant increasing volume and the slight recover during last two hours were indicating iron ore potentially oversold in short-run. Hourly slow stochastic …
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Daily Virtual Steel Mill Report 19/8/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · U.S. FOMC notes indicated to decrease QE within the year 2021. The attendee of the conference said the inflation was caused by labor and supply chain shortage, which was temporarily. However the cost increase by supply chain breakdown was beyond expectation. The new …
London Iron Ore Market Report 18/08/21
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Singapore Iron Ore Derivatives 18/08/21
Iron Ore Market Update Market Commentary Iron ore futures plunged below $150 as investors once again turned their focus to China’s wavering demand after the BHP Group warned against the risks of further steel output cuts. In its commodities outlook report, the Australian miner warned that the “increasing likelihood of stern cuts to steel …
Daily DCE Review 18/8/21
Iron ore futures fell further over subdued steel demand and low restocking activities among mills. The futures of Dalian Commodity Exchange (DCE) for September delivery then fell by 3.73% day-on-day or down RMB 31.50 to RMB 813/mt, during the day trading session on Wednesday. The rebar futures, also dropped by 3.71% day-on-day or RMB 198 …
Morning Steel and Scrap Report 18/08/21
FOB China HRC The index fell by $6/t yesterday (17.8.21) to US$925/t, MTD US$928.36/t. The National Development and Reform Commission said that nine provinces including eastern China’s Jiangsu province showed increasing energy consumption in the first half year, and these regions were asked to make more enforceable measures to meet the energy consumption …