Iron ore futures dropped on Monday, due to market concerns over unfavorable weather conditions in June and low import volume from previous month. The futures of Dalian Commodity Exchange (DCE) for September delivery then went down by 4.40% on-day or down RMB 51.50 to RMB 1,118/mt on Monday. The steel rebar contract on the Shanghai …
Category archives: Ferrous
Oil and Ore Intraday Morning Technical 07/06/21
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Steel & Scrap Morning Report 07/06/21
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Iron Ore DCE Sep Daily Technical Review 7/6/21
Verdict – Short-term neutral to bearish. DCE iron ore September contract test low as expected from last Friday. The correction ended mid-run rebound. Hourly candles created a clear multiple top area, which was normally a reversal and bearish signal. The neckline at 1148.5, created very strong resistance. The intra-day support at 1115.5 was the major …
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Daily Virtual Steel Mill Report 7/6/21
Market Verdict on Iron Ore： · Iron ore short-run neutral to bearish. Macro · China will rely on step-by-step measures to slow the appreciation of the yuan, to restrict speculators and help local exporters avoid tough measures that may impede its goal of liberalizing the yuan and enhancing its global influence. The people’s Bank of …
European Close 04/06/21
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London Iron Ore Market Report 04/06/21
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Ferrous trade weekly review 4/6/21
A total of 1.11 million mt of iron ores was traded for the week ended Jun 4, amid softening steel margins due to commodity price control imposed by the Chinese authority. However, benchmark iron ore prices soon found some support after market talks of easing steel output restriction in Tangshan that spurred paper trading and …
Oil and Ore Intraday Morning Technical 04/06/21
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Daily DCE Review 4/6/21
Iron ore futures ended its bullish run at the close of the week, bowing to the pressure of low steel margins and demand concern over the upcoming rainy season. The futures of Dalian Commodity Exchange (DCE) for September delivery then went down by 1.85% on-day or down RMB 22 to RMB 1,168/mt on Friday. The …