Iron ore futures rose higher on better steel prices, despite a choppy session as some market participants doubt whether the rally was sustainable. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange then inched up by 1.48% or RMB 12.50 day-on-day to RMB 858/mt on Wednesday. The steel rebar contract on …
Category archives: Ferrous
Base Morning Intraday Note
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Iron Ore DCE January Daily Technical Review Nov 18th
Verdict – Short-term neutral. DCE iron ore Jan contract created both higher highs and higher lows compared to yesterday. However the volatility range became smaller. Iron ore during last three days rebounded with smaller trading volume. From hourly chart, MACD was flattening. Slow stochastic KD was close to the bound of overbought area. If a …
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Daily Ferrous Physical Review Nov 18th
Ferrous Market – Ganggu Construction Steel Inventory: production 5.28 million tonnes, up 19,400 tonnes w-o-w. Mills inventory 3.37 million tonnes, down 178,400 tonnes w-o-w. Circulation inventory 7.20 million tonnes, down 729,800 tonnes w-o-w. – Decmil Group signed 22 million dollar contract with Rio Tinto on the west Pilbara Mesa J miner’s structure and transportation service, …
European close
As expected, the iron ore market has traded up to new highs today with the DCE futures trading up to 861.5 and the Dec offshore trading to a high of USD 122.99. Iron ore is following the steel Rebar that continues to push higher on strong industrial and property data with output in October remaining …
DCE benefits from high steel prices and margins
Iron ore futures hiked up higher on better steel prices and market optimism on better steel margins and demand. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange booked a gain of 2.64% or RMB 22 day-on-day to RMB 855/mt on Monday. The steel rebar contract on the Shanghai Futures Exchange …
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Steel & Scrap Morning Report 17/11/20
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Base Morning Intraday Note 17/11/20
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004 US (KS): +1 813 490 6630
FIS Ferrous Weekly Report 17112020
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European Close
On Friday we felt that there should still be another move higher for iron ore in this cycle, with our rule of alternation suggesting we should base between RMB 820 – RMB 811 but ultimately needed to see a pullback that held above the RMB 798 level. The Singapore holiday has been kind to us …