Category archives: Ferrous
Iron Ore—RSI Divergence in Play
Iron Ore DCE September Daily Technical Review Jun 15th(Hourly Chart from May 18th to Jun 15th)
Verdict – Short-term neutral to bearish. DCE iron ore corrected after Friday push to five day high. The test low was supported by 756.5. 753.0 area from hourly chart supported price reversal twice over last week. A breakdown on 746.5- 753.0 area will drive iron ore price to test 20 day moving average. The breakdown …
FIS Daily Physical Review Jun 15th
Iron Ore and Steel Market Updates – Steelbank: construction steel inventories 6.95 million tonnes, down 1.87% w-o-w. HRC inventories 1.99 million tonnes, down 4.71% w-o-w. – China Statistic Bureau: crude steel output in May rose 4.2% y-o-y. Jan-May steel output rose 1.9% y-o-y. Pig iron output in May rose 2.4% y-o-y. Jan-May pig iron rose …
DCE rallies on record-low port inventory
Chinese futures closed the week on positive note after a rally at afternoon session as China’s port inventory dropped to the lowest level in four years. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, rose by 1.90% day-on-day to RMB 777 per tonne on Friday. The steel …
Iron Ore Offshore July 20 Morning Technical Comment – 240 Min Chart
Iron Ore DCE September Daily Technical Review Jun 12th(Hourly Chart from Apr 22nd to Jun 12th)
Verdict – Short-term neutral. DCE iron ore rebounded with increasing volume and interest. However be aware of major trades are tend to be short-run. Iron ore tested low and strongly supported by 10 day moving average. The return to bull requires a breakthrough on 798.0, previous high. From hourly chart, MACD created gold cross. CCI …
FIS Daily Physical Review Jun 12th
Iron Ore and Steel Market Updates – China 45 ports iron ore inventories at 106.97 million tonnes, down 560,000 tonnes w-o-w. Australia iron ore port inventories 61.29 million tonnes, up 780,000 tonnes w-o-w. Brazil iron ore 20.71 million tonnes, down 1.07 million tonnes w-o-w. – Mysteel researched 247 blast furnace operation rate at 91.67%, up 0.65% …
FIS Technical – DCE Iron Ore Sep 20
FIS Technical – DCE Iron Ore Sep 20 To view the full report please click on the link
DCE flattens amid rainy season
Chinese futures remained almost flat on limited market activity as buyers prepared for lower steel demand during rainy season. As such, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, dipped slightly by 0.59% day-on-day to RMB 759 per tonne on Thursday. Similarly, there was not much movement in …