Category archives: Ferrous

Iron Ore DCE January Daily Technical Review Oct 26th

Verdict – Short-term neutral to bearish. DCE iron ore corrected during the day, the low of the day at 756.5 did not breakdown 751.5. A breakdown on 751.5 would indicate iron ore created the second wave of correction. The first resistance at 776.0-780.0 was a previous support. However from hourly chart, slow stochastic KD is …

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Daily Ferrous Physical Review Oct 26th

Ferrous Market –    Steelbank Inventory: construction steel inventories 6.31 million tonnes, down 6.09% w-o-w. HRC 2.16 million tonnes, down 9.13%. –    Japan Iron & Steel Federation published data suggesting crude steel production 37.10 million tonnes in first half of Financial Year(Apr- Sep), down 26.8% y-o-y, also created the lowest since the year 1968. –    Tangshan …

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Declining trade volumes due to slow steel demand

A total of 1.39 million mt of iron ores was traded for the week ended Oct 23, down almost 7.33% week-on-week as compared to the 1.5 million mt recorded last week. The decline in trading volumes was due to slowing steel demand as the peak construction came to end, while trade participants prepared for the …

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DCE closes lower on high port inventory

Iron ore futures slumped throughout the session and closed lower due to high iron ore port inventory and output restriction in Tangshan. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange nosedived since market opening by 3.14% day-on-day to RMB 771.50 per mt on Friday. The steel rebar contract on …

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