Category archives: Ferrous

DCE stabilizes on decent steel demand

Iron ore futures saw a selloff at the afternoon session but managed to stabilize at the close to gain some ground. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange were almost flat with a small rise of 0.18 % or RMB 1.50 day-on-day to RMB 835.50/mt on Thursday. The …

Continue reading “DCE stabilizes on decent steel demand”

Iron Ore DCE January Daily Technical Review Nov 12th

Verdict – Short-term neutral. DCE iron ore ticked high and long covering to take gains during afternoon session with significantly increasing volume compared to Asian morning session. From hourly chart, MACD created dead cross. Slow stochastic created dead cross below overbought area. CCI created the lowest in November. Short-run technicals are indicating an exhaustion of …

Continue reading “Iron Ore DCE January Daily Technical Review Nov 12th”

Daily Ferrous Physical Review Nov 12th

Ferrous Market –    China September and October steel export orders increase, which could result in the export volume increase in following months of the year. –    Tangshan researched 10 sample steel mills profit at 401 yuan/tonne, up 99 yuan/tonne w-o-w. –    MySteel Rebar Inventory: Rebar production 3.64 million tonnes, up 1.18% w-o-w. Mills inventory 2.47 …

Continue reading “Daily Ferrous Physical Review Nov 12th”

European Close

Upside price action is slowing down on the offshore futures in iron ore. The daily candlesticks are decreasing in size warning that momentum is slowing based on price . However, the trend remains bullish with the evening session trading up to USD 121.15. Steel production remains strong whilst exports are down 6 million tonnes on …

Continue reading “European Close”

DCE gains slightly over slower steel output

Iron ore futures booked slight gains after the recent bullish run due to better steel prices and margins. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange rose by 0.96 % or RMB 8 day-on-day to RMB 838 /mt on Wednesday. The steel rebar contract on the Shanghai Futures Exchange however, …

Continue reading “DCE gains slightly over slower steel output”