Category archives: Ferrous

DCE falls on softer winter steel demand

Iron ore futures fell on the close, despite opening high at the afternoon session before slumping toward the end, due to slower steel demand. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange went down by 0.63% day-on-day to RMB 786.50/mt on Wednesday. The steel rebar contract on the Shanghai Futures …

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Iron Ore DCE January Daily Technical Review Nov 4th

Verdict – Short-term neutral to bearish. DCE iron ore tested 805.5 five times from hourly chart since Oct 16th. However the supports are becoming higher. The current range area is 783.5 – 805.5, a rejection on both bounds would maintain iron ore in consolidation. Open interest evaporated significantly by 40,000 lots, the biggest single down …

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Daily Ferrous Physical Review Nov 4th

Ferrous Market –    Ganggu Construction Steel Inventory: production 5.32 million tonnes, up 17,800 tonnes w-o-w. Mills inventory 3.82 million tonnes, down 301,500 tonnes w-o-w. Circulation inventory 8.66 million tonnes, down 704,400 tonnes w-o-w. –    Eurofer estimated steel apparent consumption down 14.6% in the year 2o2o, previous expected down 16.6%. Expected apparent consumption up 13% in …

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European Close 3/11/20

Strong PMI figures in China have not filtered through to the DCE iron ore with price remaining below the RMB 806 level. A positive night session has seen the futures move RMB 8 higher, USD 1.18 for the Nov futures (+1.1%). Potentially this is nothing more than day traders positioning themselves for a potential change …

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