Category archives: Ferrous

DCE rallies from improving steel margins

Chinese futures rallied on better steel margins, which prompted more mills to ramp up production. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, hiked by 2.14% to RMB 645.50 per tonne at Wednesday However, the steel rebar contract on the Shanghai Futures Exchange was mostly flat throughout the …

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Indonesia Revamps Law to Unlock Billions of Mineral Riches

Indonesia’s parliament approved sweeping changes to the nation’s mining law, allowing the world’s top nickel and coal producer to hand out longer contracts to companies pledging to invest billions of dollars to develop the industry. The amendments, cleared by lawmakers on Tuesday, will help Indonesia create a supply chain of mineral resources for industries such …

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Australian Weekly Exports Drop to 16.8 Mln Tons

Shipments from Australia including Port Hedland total 16.8 million tons in week to May 8, compared with 18.9 million tons a week earlier, according to Global Ports data in AHOY compiled by Bloomberg. * From Port Hedland: 9.7 million tons ** NOTE: Port Hedland used by miners including BHP Group, Fortescue Metals Group Ltd. and …

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FIS Technical – Nickel Rolling 3 Month

FIS Technical – Nickel Rolling 3 Month The rolling futures are now above the 8-21 period EMA’s and the 55 period MA indicating the near-term technical continues to firm. However the upside move at this point is within the last bear wave down meaning it is considered as a countertrend move. To view the full …

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Aussie Pressured by Fed’s Push Back and China Beef Ban

Aussie Pressured by Fed’s Push Back and China Beef Ban The Australian dollar briefly rose above its 100-day moving average again this week in what appears to be a false break after Federal Reserve officials pushed back on the notion of negative U.S. rates. The currency had been stuck below the rolling gauge since January …

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Iron Ore Tests key Support But Refusing to Buckle

Iron Ore Tests key Support But Refusing to Buckle Onshore iron ore futures have held above key support levels this morning, having failed to break below the weekly pivot point at RMB 625.7. Fundamentally vulnerable on the back of a global slowdown due to the COVID-19 pandemic, there is increasing bearish rhetoric regarding the performance …

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Iron Rises With Brazil Flows, Australian Spat in Focus

Iron Rises With Brazil Flows, Australian Spat in Focus Iron ore futures gained as major producer Brazil continued to post lower shipment figures and investors tracked escalating trade tensions between China, the top iron ore buyer, and Australia, its largest supplier. Brazil’s daily average exports of iron ore and concentrated products was 1.04 million tons …

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