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Category archives: Ferrous
Last sprint for iron ore purchase before winter season
A total of 1.82 million mt of iron ores was traded for the week ended Nov 13, up almost 60% week-on-week as compared to the 1.15 million mt recorded last week. The higher intake of iron ore was due to better steel prices and margins that encouraged mills to produce more steel for the catch-up …
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DCE slips on declining steel prices
Iron ore futures opened low but managed to catchup at the afternoon session before closing at slight dip for the day. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange were almost flattish and booked a small loss of 0.83% or RMB 7 day-on-day to RMB 832.50/mt on Friday. The …
Base Morning Intraday Note
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London Iron Ore Market Report
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DCE stabilizes on decent steel demand
Iron ore futures saw a selloff at the afternoon session but managed to stabilize at the close to gain some ground. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange were almost flat with a small rise of 0.18 % or RMB 1.50 day-on-day to RMB 835.50/mt on Thursday. The …
Steel & Scrap Morning Report
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Base Morning Intraday Note
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Iron Ore DCE January Daily Technical Review Nov 12th
Verdict – Short-term neutral. DCE iron ore ticked high and long covering to take gains during afternoon session with significantly increasing volume compared to Asian morning session. From hourly chart, MACD created dead cross. Slow stochastic created dead cross below overbought area. CCI created the lowest in November. Short-run technicals are indicating an exhaustion of …
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Daily Ferrous Physical Review Nov 12th
Ferrous Market – China September and October steel export orders increase, which could result in the export volume increase in following months of the year. – Tangshan researched 10 sample steel mills profit at 401 yuan/tonne, up 99 yuan/tonne w-o-w. – MySteel Rebar Inventory: Rebar production 3.64 million tonnes, up 1.18% w-o-w. Mills inventory 2.47 …