Category archives: Ferrous

Chinese construction activities catch up before winter

A total of 1.15 million mt of iron ores was traded for the week ended Nov 6, up 12.75% week-on-week as compared to the 1.02 million mt recorded last week. There were some catch-up operations among the Chinese construction firms right before the winter season, which resulted in more procurement. BRBF toppled PBF as the …

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DCE ends choppy week on gains

Iron ore futures had a choppy session and managed to book a gain at the close, despite market concerns over high port inventory. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange rose by 0.84% or RMB 6.50 day-on-day to RMB 789.50/mt on Friday. The steel rebar contract on the Shanghai …

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Iron Ore DCE January Daily Technical Review Nov 6th

Verdict – Short-term neutral. DCE iron ore consolidate in narrow range for the third trading day during the week. Trading volume down 32% from yesterday. Short-run correction needs to breakdown 772.5. At the same time, a rebound needs a breakthrough with volume on 805.5 level. Hourly slow stochastic is potential to create dead cross below …

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Daily Ferrous Physical Review Nov 6th

Ferrous Market –    MySteel 45 ports iron ore inventories at 128.12 million tonnes, up 482,500 tonnes w-o-w. Daily evacuation 3.1986 million tonnes, up 68,000 tonnes w-o-w. Australia iron ore 60.72 million tonnes, up 418,000 tonnes w-o-w. Brazil iron ore 39.56 million tonnes, up 174,000 tonnes w-o-w. 133 ships at ports, down 16. –    Mysteel researched …

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European Close 05/11/20

The Election count is dragging on leaving uncertainty in certain financial sectors. Equities are catching a bid whilst the USD continues to come under pressure, having produced a rejection candle yesterday. For iron ore the market is finding support having traded down to RMB 772 overnight. The offshore futures are seeing a similar pattern, a …

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