Category archives: Ferrous
FIS Ferrous Weekly Report 02/06/2020
New Virus Hotspot Latin America Houses World’s Biggest Mines
The decision to keep Chinese factories shut after the Lunar New Year sent shudders through the giant mines of Brazil and Chile that feed them. Now, with China getting back to work and Latin America the new virus hotspot, concern is shifting from demand to supply. Iron-ore shipper Vale SA had a scare last …
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Iron ore soars on China recovery, supply fears
Iron ore futures soared on Monday after latest data indicated that China is recovering robustly from the coronavirus pandemic. The Caixin/Markit Manufacturing Purchasing Manager for May came in at 50.7, better than both market estimates and the reading of previous month of 49.6 and 49.4 respectively, indicating that China is expanding faster than expected. …
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DCE starts the week on bull run
Chinese futures started the week on bullish note, amid market supply concerns and better economic data from China. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, hiked up by 3.22% day-on-day to RMB 752.50 per tonne on Monday. Following the rally, the steel rebar contract on the Shanghai …
Iron Ore Offshore July 20 Morning Technical Comment – 240 Min Chart
https://freightinvestorservices.com/wp-content/uploads/2020/06/FIS-MorningTechnical-Iron-Ore-Offshore-01-06-20.pdf
Iron Ore DCE September Daily Technical Review Jun 1st(Hourly Chart from Apr 16th to Jun 1st)
Verdict – Short-term reversal on high level. DCE iron ore pushed up and loss all gains by last two hours. From hourly chart, slow stochastic KD created dead cross in overbought area. CCI created divergence with candles during the second hour of Asian morning. It is worth noting that 100,000 lots of long positions built …
Copper Rallies After Trump Remarks, China Data
Copper in Shanghai headed for its best close since March in a relief rally after U.S.-China tensions eased and manufacturing data from the Asian nation pointed to a continuing slow recovery. President Donald Trump’s threatened new measures against China proved weaker than expected, easing a major source of market jitters over the past week. That left …
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Iron Ore Seen Gripping On to Surge Before Eventual Descent
Iron ore’s surge, with its latest jump to three-digits, is set to persist in the short term powered by supply concerns, before a market surplus in the second half spells a decline for the steelmaking material. Physical spot ore surged to $101.05 a ton on Friday, the highest since August, according to Mysteel Global. Elevated steel …
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China’s speedy recovery boosts PMIs in May
When China sneeze, the world catches cold, as the saying goes. However, if China economy recovers, how will the global market react? Once again, there were signs of recovery for the country’s economic after it was heavily embattled by the coronavirus pandemic earlier this year. In May, both the official and private Purchasing Manufacturing Index …
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