Category archives: Ferrous
DCE rises over Vale’s supply woe
Chinese futures rose further over supply concerns as Vale was ordered to suspend its Itabira mine amid coronavirus pandemic. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, jumped up by 5.53% day-on-day to RMB 783 per tonne on Monday. However, the steel rebar contract on the Shanghai …
Iron Ore Offshore July 20 Morning Technical Comment – 240 Min Chart
Iron Ore DCE September Daily Technical Review Jun 8th(Hourly Chart from May 18th to Jun 8th)
Verdict – Short-term consolidation. DCE iron ore jumped up at 798.0 yuan only 3 yuan from limit up however correct back significantly by last hour and closed at 783.0 yuan. From hourly chart slow stochastic narrowed and potentially create dead cross near overbought area. Hourly level CCI correct from high area. Technical signals are indicating …
FIS Daily Physical Review Jun 8th
Iron Ore and Steel Market Updates – Steelbank inventories: construction steel inventories 7.08 million tonnes, down 5.51% w-o-w. HRC inventories 2.08 million tonnes, down 5.88% w-o-w. – China customs: China iron ore import 87.03 million tonnes in may, up 3.9% y-o-y. China steel export 4.4 million tonnes in may, down 23.4% y-o-y. – Vale informed …
A Short Summary on Vale Disruption on Itabira Complex
Iron ore futures in both SGX and DCE jumped after top iron ore miner Vale SA was ordered to shut operations at Itabira complex including three major mines that accounts for 10% of annual production, boosting concerns that Brazil will disrupt other mines in coming months. However Vale also claimed the potential impact of 2.7 …
Continue reading “A Short Summary on Vale Disruption on Itabira Complex”
Iron ore blips back but rally ‘looks stretched’
Iron ore futures in Singapore recovered from yesterday’s blip and is set to finish the week on a high. The iron ore market has seen great volatility of late, pushing towards $100 on supply concerns following disruptions in Brazil as well as strong demand from China. Global steel demand is expected to fall …
Continue reading “Iron ore blips back but rally ‘looks stretched’”
Iron Ore Offshore July 20 Morning Technical Comment – 240 Min Chart
DCE extends corrections despite strong Chinese demand
Chinese futures dipped further on lower buying interest, as buyers were turned off by high seaborne prices and preferred port purchases. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, slid down by 0.93% day-on-day to RMB 746 per tonne on Friday. Following the downtrend, the steel rebar contract …
Continue reading “DCE extends corrections despite strong Chinese demand”
Iron Ore DCE September Daily Technical Review Jun 5th(Hourly Chart from May 18th to Jun 5th)
Verdict – Short-term consolidation. DCE iron ore rebounded from DCE night session, however consolidated within narrow range from 743.0- 746.0 area in Asian hours. From hourly chart, multiple tops pattern has created and the low of candles broke down neckline on 738.0 area. Thus, iron ore is still in a correction tunnel, unless a breakthrough …