FIS API Blog
A total of 770,000 mt of iron ores was traded for the week ended Dec 24, less 7.23% on-week as compared to the trade volume of 770,000 mt recorded last week. Benchmark iron ore prices peaked above $175/mt since the start of the week, but soon dropped as Dalian Commodity Exchange (DCE) imposed stricter measures …
Continue reading “More iron ore price corrections after stricter trading measures”
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Iron ore futures rebounded over buoyant market outlook, despite DCE’s tightening of trading limits. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) rose slightly by 0.93% or RMB 9.50 to RMB 1,036/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange however, dropped by 0.39% or RMB 17 day-on-day …
Continue reading “DCE rebounds despite strict trading restrictions”
Ferrous Market – Tangshan 10 sample steel mills pig iron before tax 2702 yuan/tonne, billet cost 3474 yuan/tonne, up 110 yuan/tonne w-o-w. Gross profit 396 yuan/tonne, up 100 yuan/tonne. – China will reduce some waste metal custom tax to 0. Mongolia coke custom tax reduced from 5% to 2.5%. – MySteel Rebar Inventory: Rebar production …
Verdict – Short-term neutral. DCE iron ore spiked and retreat from the high during last trading hour. Iron ore consolidate in the range 1027.5- 1059.0 area in short-run potentially. Hourly slow stochastic KD potentially create dead cross. Hourly MACD flattened during last two hours. Technical signals were indicating neutral. The first support is 1127.5. The …
Continue reading “Iron Ore DCE May Daily Technical Review Dec 24th”
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
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
Iron ore futures continued to correct after another choppy session, as market participants felt the effect of trading limits imposed by the exchange. Thus, the most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) went down by 5.78% or RMB 62.50 to RMB 1,027/mt on Wednesday. The steel rebar contract on the Shanghai …
Ferrous Market – Ganggu Construction Steel Inventory: production 5.31 million tonnes, up 40,100 tonnes w-o-w. Mills inventory 4.46 million tonnes, up 47,800 tonnes w-o-w. Circulation inventory 5.58 million tonnes, down 92,600 tonnes w-o-w. – MySteel Australia and Brazil iron ore total delivery at 25.17 million tonnes, up 2.45 million tonnes w-o-w. Australia iron ore delivery …
Verdict – Short-term neutral to bearish. DCE iron ore decreased total 10% open interest from Tuesday and Wednesday. From hourly candles, iron ore potentially created a roof area and face mid-run level reversal from peak area. Hourly MACD was narrowing below 0 axis. Hourly candles were continuously decreasing the volatility. Hourly slow stochastic KD created …
Continue reading “Iron Ore DCE May Daily Technical Review Dec 23rd”
