Category archives: Ferrous

DCE slips amid port congestion issues

Iron ore futures dropped on Wednesday over the port congestion issues in China which were likely to ease only in late August. Thus, the most-traded iron ore for September delivery on China’s Dalian Commodity Exchange dipped by 0.89% or RMB 7.50 day-on-day to RMB 832.50 per tonne on Wednesday, despite a late rally at the …

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Iron Ore DCE January Daily Technical Review Aug 12th

Verdict – Short-term neutral. DCE iron ore pushed high along with equities after a test low around 807.5, which was a strong level previously. From hourly chart, iron ore on the “right shoulder” was higher than the “left shoulder”. The next breakthrough on 851.5 will bring iron ore back to bullish market. Hourly MACD is …

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Daily Ferrous Physical Review Aug 12th

Ferrous Market –    MySteel Australia and Brazil iron ore total delivery at 24.05 million tonnes, up 322,000 tonnes. Australia iron ore delivery 16.44 million tonnes, down 246,000 tonnes w-o-w. Australia delivery to China 14.29 million tonnes, up 734,000 tonnes w-o-w. Brazil iron ore delivery 7.6 million tonnes, up 568,000 tonnes w-o-w. Global iron ore delivery …

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DCE rebounds on lesser mainstream supply

Iron ore futures rebounded on Tuesday, after recent losses as the exchange issued a statement last week urging market participants to trade rationally. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange gained by 2.33% or RMB 19 day-on-day to RMB 834 per tonne on Tuesday. However, the Shanghai Futures Exchange dropped …

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Iron Ore DCE January Daily Technical Review Aug 10th

Verdict – Short-term neutral. DCE iron ore major changed from September to January over current two trading days. January contract slight up however September contract slight down, indicating current long are betting on far contract value and expect current month value is too high. If iron ore January contract break 828.5, a five-year high, iron …

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