Category archives: Ferrous

Iron Ore DCE May Daily Technical Review Dec 7th

Verdict – Short-term neutral, be aware of market reversal. DCE iron ore Jan contract correct from historical high after the spike on Friday night. However iron ore may entirely ignored the exchange inspection notice and stay similar level from Friday night closing. A breakthrough on 923.5, previous high, potentially push iron ore back to the …

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Daily Ferrous Physical Review Dec 7th

Ferrous Market –    Steelbank Inventory: construction steel inventories 3.33 million tonnes, down 8.18% w-o-w. HRC 1.34 million tonnes, down 7.79% w-o-w. –    A CISA official indicated iron ore spike has increased the industry risk and harm to the stabilisation on the ferrous chain, and suspect some market squeeze and manipulation. –    DCE started a new …

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Iron Ore: A strong start to the end

A total of 925,000 mt of iron ores was traded for the week ended Dec 4, down 32.5% week-on-week, as compared to 1.37 million mt of iron ore traded last week.   Apparently, most of the end-users had risen their restocking activities over the past week and the lower transaction volume implied their concerns over …

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DCE rises toward the RMB 1,000/mt mark

Iron ore futures ended the week on record-breaking rally, which might challenge the RMB 1,000/mt mark at this bullish market momentum. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange surged by 4.24% or RMB 39.50 day-on-day to RMB 972/mt on Friday. The steel rebar contract on the Shanghai Futures Exchange, …

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