Iron ore futures remained flattish since market opening but benefited from a late rally in the afternoon session for gains. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange then rose slightly by 0.33% day-on-day to RMB 767 per tonne on Thursday. Likewise, the steel rebar contract on the Shanghai Futures …
Category archives: Ferrous
Steel & Scrap Morning Report
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Iron Ore DCE January Daily Technical Review Sep 24th
Verdict – Short-term neutral to bearish. DCE iron ore entered a short-run consolidation area after the second round of correction. The support at 751.5 is strong since lower area is theoretical support for a double tops pattern. However daily MACD created a classic bearish pattern when seeing longer term MA is bigger than short term …
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Daily Ferrous Physical Review Sep 24th
Ferrous Market – Ganggu Construction Steel Inventory: production 5.53 million tonnes, down 49,300 tonnes w-o-w. Mills inventory 4.86 million tonnes, up 34,800 tonnes w-o-w. Circulation inventory 11.17 million tonnes, up 143,200 tonnes w-o-w. – MySteel Rebar Inventory: Rebar production 3.76 million tonnes, up 1.03% w-o-w. Mills inventory 3.51 million tonnes, down 1.08% w-o-w. …
London Iron Ore Market Report
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DCE dip slightly on slow demand
Iron ore futures stayed rather flattish due to a slowdown in steel demand and lower steel prices. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange dipped slightly by 0.65% day-on-day to RMB 766.50 per tonne on Wednesday. However, the steel rebar contract on the Shanghai Futures Exchange saw a slight …
Steel & Scrap Morning Report
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London Iron Ore Market Report
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Oil and Ore Intraday Morning Technical
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DCE drops further on lower steel prices
Iron ore futures continued to slide on lower steel prices as steel demand started to lose steam amid peak construction season. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange fell by 2.03% day-on-day to RMB 772.50 per tonne on Tuesday. However, the steel rebar contract on the Shanghai Futures Exchange …