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Category archives: Ferrous
Base Morning Intraday Note
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Iron Ore DCE January Daily Technical Review Nov 12th
Verdict – Short-term neutral. DCE iron ore ticked high and long covering to take gains during afternoon session with significantly increasing volume compared to Asian morning session. From hourly chart, MACD created dead cross. Slow stochastic created dead cross below overbought area. CCI created the lowest in November. Short-run technicals are indicating an exhaustion of …
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Daily Ferrous Physical Review Nov 12th
Ferrous Market – China September and October steel export orders increase, which could result in the export volume increase in following months of the year. – Tangshan researched 10 sample steel mills profit at 401 yuan/tonne, up 99 yuan/tonne w-o-w. – MySteel Rebar Inventory: Rebar production 3.64 million tonnes, up 1.18% w-o-w. Mills inventory 2.47 …
European Close
Upside price action is slowing down on the offshore futures in iron ore. The daily candlesticks are decreasing in size warning that momentum is slowing based on price . However, the trend remains bullish with the evening session trading up to USD 121.15. Steel production remains strong whilst exports are down 6 million tonnes on …
London Iron Ore Market Report
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DCE gains slightly over slower steel output
Iron ore futures booked slight gains after the recent bullish run due to better steel prices and margins. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange rose by 0.96 % or RMB 8 day-on-day to RMB 838 /mt on Wednesday. The steel rebar contract on the Shanghai Futures Exchange however, …
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Steel & Scrap Morning Report
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Base Morning Intraday Note
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Iron Ore DCE January Daily Technical Review Nov 11th
Verdict – Short-term neutral to bullish, be aware of market reversal. DCE iron ore rebounded gentlely during the day. However most of the push was contributed by some block trades during 14:00 – 14:01 p.m. In addition ferrous sector is also supported by coking coal spike. Hourly MACD and CCI are both flatenning. Short-run technicals …
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