Ferrous Market – Steelbank: construction steel inventories 3.63 million tonnes, down 7.4% w-o-w. HRC inventories 1.45 million tonnes, down 8.42% w-o-w. – Vale was approved to recover production in Serra Leste miner, expected total production 4-5 million tonnes in the year 2021, and reached 6 million of annual production in the year 2022. – Tangshan …
Category archives: Ferrous
European Close 27-11-20
Iron ore continues to hold near its highs on the bullish sentiment from BHP earlier in the week. DCE futures produced a Doji star on the daily chart, signaling indecision is creeping into the market, warning that buyers and sellers are in balance. Capesize futures closed the week lower after giving up Wednesday …
London Iron Ore Market Report
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Oil and Ore Intraday Morning Technical
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Lesser iron ore intakes in preparation for winter
A total of 1.37 million mt of iron ores was traded for the week ended Nov 27, almost halved or down 48.88% week-on-week, as compared to 2.68 million mt recorded last week. The lower transaction volume was due to colder weather in northern China that resulted in lesser construction activities and reduced the intakes for …
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DCE breaks the RMB 900/mt mark on higher steel demand
Iron ore futures ended the week on high note after much rally due to robust steel demand and high steel margins. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange broke the RMB 900/mt mark and rose by 1.52% or RMB 13.50 day-on-day to RMB 902/mt on Friday. The steel rebar …
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Steel & Scrap Morning Report 27/11/20
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Base Morning Intraday Note
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Iron Ore DCE January Daily Technical Review Nov 27th
Verdict – Short-term neutral. DCE iron ore Jan contract created historic high overnight and however lose most of the intra-day gains during the Asian day session. Jan long positions were rolling to May which caused a quick narrow on Jan-May. From hourly chart, MACD is narrowing. Slow stochastic KD created dead cross before noon. CCI …
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Daily FerrousPhysical Review Nov27th
Ferrous Market – Mysteel 64 steel mills seaborne sintered iron ore inventory 17.64 million tonnes. Iron ore inventory turnover in 26 days. – Mysteel steel mills import iron ore inventory 114.45 million tonnes, up 1.9 million tonnes w-o-w. Sintered iron ore daily consumption 3.04 million tonnes, up 29,400 tonnes w-o-w. – MySteel 45 ports iron …