FIS API Blog
Verdict – Short-term neutral, be aware of reversal. DCE iron ore Jan contract rebound with increasing volume, Jan contract created historical high at 886.0. However hourly slow stochastic KD created dead cross near overbought area. Hourly CCI created bearish divergence with hourly candle from the first hour of the day. The first support is 850.0. …
Continue reading “Iron Ore DCE January Daily Technical Review Nov 19th”
Ferrous Market – Tangshan 10 steel mills average pig iron cost 2446 yuan/tonne, billet cost 3181 yuan/tonne, up 2 yuan/tonne. Mills gross profit 419 yuan/tonne, up 18 yuan w-o-w. – China coal mines safety and inspection bureau planned to investigate Shanxi Province on the safety production and facilities for three months. – MySteel Rebar Inventory: …
Iron ore futures continue to trade at new highs signaling the market trend remains bullish. Demand remains resilient whilst we are seeing a decline in steel inventories by 178,400 tons (MySteel), this is following the strong industrial and property data from yesterday. The fundamental continues to support the market with futures trading up to …
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004 US (KS): +1 813 490 6630
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004 US (KS): +1 813 490 6630
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004 US (KS): +1 813 490 6630
Iron ore futures rose higher on better steel prices, despite a choppy session as some market participants doubt whether the rally was sustainable. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange then inched up by 1.48% or RMB 12.50 day-on-day to RMB 858/mt on Wednesday. The steel rebar contract on …
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004 US (KS): +1 813 490 6630
Verdict – Short-term neutral. DCE iron ore Jan contract created both higher highs and higher lows compared to yesterday. However the volatility range became smaller. Iron ore during last three days rebounded with smaller trading volume. From hourly chart, MACD was flattening. Slow stochastic KD was close to the bound of overbought area. If a …
Continue reading “Iron Ore DCE January Daily Technical Review Nov 18th”
Ferrous Market – Ganggu Construction Steel Inventory: production 5.28 million tonnes, up 19,400 tonnes w-o-w. Mills inventory 3.37 million tonnes, down 178,400 tonnes w-o-w. Circulation inventory 7.20 million tonnes, down 729,800 tonnes w-o-w. – Decmil Group signed 22 million dollar contract with Rio Tinto on the west Pilbara Mesa J miner’s structure and transportation service, …
