To catch a falling knife

It started overnight with the equities and the iron ore coming under pressure. Fears about banking, the global economy, and the horror that we call the Pandemic. However, this sell off feels like it might have more behind it. Since March, equities, iron ore, steel and base have shrugged of the global economic slowdown. The …

London Iron Ore Market Report

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DCE plunges on lower steel demand

Iron ore futures went off the cliff on Monday due to the lower than expected steel demand and bearish market sentiment. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange went to a steep dive since opening, dropping 2.88% day-on-day to RMB 776 per tonne on Monday. Likewise, the steel rebar …

Oil and Ore Intraday Morning Technical

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Oil and Ore Intraday Morning Technical

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A constant reliance on medium grade fines

A total of 2.302 million mt of iron ores was traded for the week ended Sep 18, up 13.40% as compared to the 2.03 million mt recorded last week. Pilbara Blend fines (PBF) had once again accounted almost half of the transacted trades for this week at 49% of the market share, which was similar …

DCE bounces on high restocking demand and good Q4 outlook

Iron ore futures rebounded and closed on high due to restocking demand ahead of China’s week-long National Day holidays in early October. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange hiked up by 1.58% day-on-day to RMB 803 per tonne on Friday. The steel rebar contract on the Shanghai Futures …