Category archives: Ferrous

DCE closes the week on gain from steel rally

Iron ore futures ended the week on gains, after a late session rally driven by good steel margins and prices. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange went up by 1.72 % or RMB 15 day-on-day to RMB 887.50/mt on Friday. The steel rebar contract on the Shanghai …

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Iron Ore DCE January Daily Technical Review Nov 20th

Verdict – Short-term neutral to bullish. DCE iron ore Jan contract created yearly high again during the day. A correction above 874.0 should be consider as a normal correction and market remain bullish. At the same time, DCE iron ore may contract was weaker since the long jan-may arbitraging. The key driver of ferrous growth …

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Daily Ferrous Physical Review Nov 20th

Ferrous Market –    MySteel 45 ports iron ore inventories at 127.51 million tonnes, down 263,000 tonnes w-o-w. Daily evacuation 3.22 million tonnes, up 49,200 tonnes w-o-w. Australia iron ore 59.88 million tonnes, up 111,500 tonnes w-o-w. Brazil iron ore 41.61 million tonnes, up 578,900 tonnes w-o-w. 129 ships at ports, down 1 w-o-w. –    Mysteel …

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DCE rallies on high restocking demand

Iron ore futures rallied on high steel margins and prices, after a strong opening at the start before moving flattish at the closing afternoon session. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange then hiked up by 2.45 % or RMB 21 day-on-day to RMB 876.50/mt on Thursday. The steel …

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