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 …
Category archives: Ferrous
FIS Daily Physical Review Jun 5th
Iron Ore and Steel Market Updates – MySteel 45 ports iron ore inventory at 107.54 million tonnes, down 311, 500 tonnes w-o-w. Daily evacuation 3.14 million tonnes up 121,400 tonnes w-o-w. Australia iron ore on ports at 60.51 million tonnes down 499,800 tonnes w-o-w. Brazil iron ore on ports at 21.79 million tonnes down 147,700 …
Iron ore futures fall as players take profits
Iron ore futures slumped on Thursday following some profit-taking activities as market participants turned cautious. The iron ore market has seen great volatility, pushing towards $100 on supply concerns following disruptions in Brazil as well as strong demand from China. The Dalian Exchange issued a notice earlier this week, urging member brokerages to …
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Iron Ore Offshore July 20 Morning Technical Comment – 240 Min Chart
DCE in correction after recent rally
Chinese futures faced correction after recent rally as buying interests slowed, while steel demand came under threat from rainy season. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, dropped down by 2.12% day-on-day to RMB 737 per tonne on Thursday. Likewise, the steel rebar contract on the …
Capesize – Even Poor Summers give some Sunshine
2020 is taking the phrase annus horribilis to a new level for the Capesize 5tc market. The big sisters rarely have anything to celebrate in the first few months of the year, like a tourist spot emerging from lockdown, owners know that they to make hay when the sun is shining. Index values …
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Iron Ore DCE September Daily Technical Review Jun 4th(Hourly Chart from May 19th to Jun 4th)
Verdict – Short-term bearish. DCE iron ore rejected by roof area at 770.0(last high at 775.0) and then created a slump before noon and before afternoon DCE closing, both timing with huge volume of long covering. The low breakdown the neckline from hourly range and created a multiple top. A reversal has created and mid-run …
Iron Ore Futures Consolidate on Supply Outlook
Dalian Iron ore futures have failed for a third day to break the high RMB 775 high that formed on the 01/06/20, bringing a halt to the previous 4-day rally after repeated warnings from financial institutions that the current supply tightness will ease in the later months of the year. Vale intend to …
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FIS Daily Physical Review Jun 4th
Iron Ore and Steel Market Updates – NDMC produced 2.29 million tonnes of iron ore, down 24.7% y-o-y. NDMC sold 2.55 million tonnes of iron ore down 24.3% y-o-y. – Vietnam steel mill HòaPhát sign an agreement to sell 120,000 tonnes to steel billet to CIEC Group in Hangzhou, China, with a contract value around …
Iron ore keeps up top table pressure
Iron ore futures advanced on Wednesday as investors gauged over short-term iron ore supply. On one hand, Australian miners have been going flat out and the country may be shipping in record volumes. According to initial tally compiled by Bloomberg, shipments from Australia were up by 3.2 million tonnes in May year-on-year to 79.7 …