Big questions have been asked in recent weeks about the iron ore rally, with many financial institutions forecasting that we will see a weakening of prices in the second half of 2020. Brazil continues to have serious control issues with COVID-19 and seemingly no plan to lockdown the country on a grand scale. Vale won …
Category archives: Ferrous
DCE corrects amid market uncertainty
Chinese futures slid at the start of the week as trade participants seek for clearer market directions. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, went down by 2.21% to RMB 753.50 per tonne on Monday. Likewise, the steel rebar contract on the Shanghai Futures Exchange also slipped …
FIS Steel & Scrap Update – 22nd June
Turkish import prices retreat $8 since Wednesday Jul and Aug scrap futures trade $257/t and $260/t respectively Turkish import prices have softened $8 since last Wednesday amid a slow up in physical buying activity. The scrap futures curve continues to hold its relatively flat nature, July futures traded at $257/t, whilst August printed at $260/t …
Iron Ore DCE September Daily Technical Review Jun 22nd(Daily Chart from Mar 11th to Jun 22nd)
Verdict – Short-term neutral to bearish. DCE iron ore correct in the morning session and consolidate arround 753.0 level during the afternoon. The ferrous sector position evaporated from previous week. A breakdown on 746.5 level potentially drive market to mid-run bearish. DCE iron ore sep contract technical signals including MACD, slow stocahstic KD and CCI …
FIS Daily Physical Review Jun 22nd
Iron Ore and Steel Market Updates – The low grade fines and discounted fines are becoming higher versus major brands iron ores, indciated steel mills are thinking of controling production cost. – China Jan – May cement production at 769 million tonnes, down 8.2% y-o-y. However may cement production at 249 million tonnes, up 8.6% y-o-y, …
Positive Outlook from U.S. Steelmakers
A traumatic start to the year for U.S. steel makers may now be behind them after some of the largest producers offered positive outlooks for the rest of the year. Non-residential construction in the U.S has remained resilient compared to the consumer sector in recent months. With it looking increasingly like the worst of …
Iron ore holds at $100 as Brazil supply fears ease
Iron ore futures held at around $100 on Friday as supply concerns eased. Latest data showed that Brazil’s iron ore exports increased by 1.4 million tonnes during the first nine days of Jun to 1.64 million tonnes per day. Meanwhile, Vale is gradually resuming operations at its Itabira complex after receiving the green …
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Iron Ore Offshore July 20 Morning Technical Comment – 240 Min Chart
ShipShape: The Long and Winding Road
It is one of the best-known Beatles songs from their final studio album Let It Be, but it also encapsulates perfectly the challenge many commodity markets face as they begin to recover from the enormous disruption of Coronavirus. The pandemic has impacted every metric you can think of: quantitative easing, government debt, unemployment, share …
DCE flats on low port inventory
Chinese futures changed little as the market tried to end the week on positive note with huge drawdown of port inventory. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, rose slightly by 0.13% day-on-day to RMB 768 per tonne on Friday. Likewise, the steel rebar contract on …