Iron ore futures closed at slight correction after a strong opening, only to sustain losses at the afternoon session due to rising port inventory. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange slipped by 0.31% or RMB 2.50 day-on-day to RMB 817 a tonne on Monday. Similarly, the steel rebar contract …
Category archives: Ferrous
Iron Ore DCE September Daily Technical Review Jul 16th
Verdict – Short-term bearish. Maintain Short-term bearish as last week. However daily low was higher than Friday and iron ore entered a slower correction phase. From hourly chart, iron ore entered a narrowed descending triangle area with lower highs and almost flat lows around 807.0 level. However daily slow stochastic KD is creating dead cross …
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Daily Ferrous Physical Review Jul 20th
Ferrous Market Updates – Steelbank inventories 7.34 million tonnes, up 1.41% y-o-y. HRC inventories 1.81 million tonnes, down 1.37% y-o-y. – Tangshan increased production curb level from last week and this week. Most of the curb is related to sintering machine. Thus decreasing usage of iron ores and cokes in Tangshan Area. – China southern …
London Iron Ore Market Report
No more Samba for the week
A total of 2.104 million mt of iron ore was exchanged hands for the week ended Jul 17, with Australian fines dominating the market with little presence of Brazilian ores. Australian Pilbara Blend Fines (PBF) garnered almost 40% or 39.11% of iron ore products share, while Jimblebar fines came in second with 18%, followed by …
DCE ends the week in corrections
Iron ore futures continued its correction phrase as buyers found prices too high amid mixed market sentiments. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange dropped by 0.42% or RMB 3.50 day-on-day to RMB 826 a tonne on Friday. However, the steel rebar contract on the Shanghai Futures Exchange gained slightly …
Ship Shape – FIS Commodity Weekly 17/07/20
A V-Shaped Recovery We have noted for several weeks now that there are more and more examples of countries or sectors returning to work. GDP figures show China has returned to growth, with many other countries reversing the dramatic trend that befell their Q1 economic data. It is, so far, a V-shaped rebound that has …
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Steel & Scrap Morning Report
ShipShape: A V-Shaped Recovery
We have noted for several weeks now that there are more and more examples of countries or sectors returning to work. GDP figures show China has returned to growth, with many other countries reversing the dramatic trend that befell their Q1 economic data. It is, so far, a V-shaped rebound that has mirrored much of …
