Category archives: Ferrous

European Close 3/11/20

Strong PMI figures in China have not filtered through to the DCE iron ore with price remaining below the RMB 806 level. A positive night session has seen the futures move RMB 8 higher, USD 1.18 for the Nov futures (+1.1%). Potentially this is nothing more than day traders positioning themselves for a potential change …

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DCE corrects after recent rally

Iron ore futures plunged on the market opening and ended the five consecutive trading days of gains, due to slower steel demand. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange went down by 1.25% day-on-day to RMB 787/mt on Tuesday. The steel rebar contract on the Shanghai Futures Exchange were …

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Oil and Ore Intraday Morning Technical 02/11/20

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DCE rises on China’s positive economic data

Iron ore futures rose on positive economic data from China due to higher steel consumptions and demand.   The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange rose by 1.91% day-on-day to RMB 801/mt on Monday.   The steel rebar contract on the Shanghai Futures Exchange also went up slightly by …

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