Category archives: Ferrous

FOMO drives China iron ore sentiment

Iron ore futures rallied sharply on the first trading day of the week on market optimism over steel demand as China’s recovery gathered momentum. An upturn in industrial output suggests that the economy expanded in last quarter after cratering in the opening three months due to the coronavirus impact, according to Bloomberg Economics. The robust …

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DCE continues to rally from last week gains

Chinese futures ended the afternoon session on gains and continued the rally seen last week in view of market optimism and possible supply tightness from Brazilian suppliers. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, rose by RMB 38 or 4.80% day-on-day to RMB 829 per tonne on …

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Iron Ore DCE September Daily Technical Review Jul 13th

Verdict – Short-term neutral to bullish. DCE iron ore rebounded and saw massive short covering during Asian hours. Daily candle successfully created new high and led iron ore to bullish territory in mid-run. However from hourly chart, slow stochastic KD is narrowing above over-bought area. CCI is correcting to 100 area from the weekly high. …

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Daily Ferrous Physical Review Jul 13th

Ferrous Market Updates –    Steelbank Inventory: rebar inventories 9.98 million tonnes, up 16.11% w-o-w. HRC 3.47 million tonnes, up 21.45%. –    Mysteel early July crude steel production expected 2.93 million tonnes/daily, down 0.64% from end-June. –    Brazil Miners Association president Flavio Penido said Brazil can run all iron ore miners and recover the production. Mining …

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