Category archives: Ferrous

Daily Ferrous Physical Review Oct 19th

Ferrous Market –    Steelbank Inventory: construction steel inventories 6.73 million tonnes, down 7.94% w-o-w. HRC 6.38 million tonnes, down 4.83%. –    World Steel Association: 2o2o Global steel demand down 2.4% y-o-y to 1.725 billion tonnes. Year 2021 steel demand recovered to 1.795 billion tonnes, up 4.1% estimated. –    MySteel 45 ports iron ore inventories at …

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European Close 16-10-20

Is the market taking a rest, or is it bullish? This is the question that traders need to ask when looking at the iron ore. Four bearish days have been capped by two bullish days (one bullish and a push into the night session) with the futures up 1.6% at USD 116.76, this would suggest …

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A decent rebound for the post-Golden week

A total of 1.5 million mt of iron ores was traded for the week ended Oct 16, up almost 8.7% week-on-week as compared to the 1.38 million mt recorded as of Sep 30. The uptick in trading volumes was due to the return of Chinese participants from the weeklong National Day holidays in early October. …

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DCE dips further as port inventory reaches 7-month high

Iron ore futures ended the week in decline due to high port inventory and slow steel demand in China. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange dipped down by 0.63% day-on-day to RMB 785.50 per tonne on Friday. The steel rebar contract on the Shanghai Futures Exchange remained flattish …

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Iron Ore DCE January Daily Technical Review Oct 16th

Verdict – Short-term neutral. DCE iron ore exhausted on previous correction and created a doji during the day. However the previous support removed from 783.5 to 776.5, iron ore still created lower lows and lower highs. From hourly chart, slow stochastic KD created gold cross and widened. MACD is narrowing and potentially create gold cross. …

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Daily Ferrous Physical Review Oct 16th

Ferrous Market –    Mysteel researched 247 blast furnace operation rate at 88.41%, down 0.78% w-o-w. Utilisation rate 92.91%, down 0.30% w-o-w. Daily pig iron production 2.47 million tonnes, up 8,000 tonnes. –    MySteel 45 ports iron ore inventories at 122.39 million tonnes, up 1.78 million tonnes w-o-w. Daily evacuation 3.12 million tonnes, down 58,500 tonnes …

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European Close 15-10-20

For iron ore, the bearish rhetoric is increasing as we continue to hear about global supply. The November futures have now seen four days of negative price action and this is getting buyers anxious, as the price must be justified when you are USD 40 above 5-year average values. USD 108.84 is the next logical …

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