Category archives: Ferrous

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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Daily Ferrous Physical Review Nov 11th

Ferrous Market –    China steel mills are planning  to invest in south-east countries, equal to 54 million tonnes of steel capacity. –    Ganggu Construction Steel Inventory: production 5.26 million tonnes, down 55,400 tonnes w-o-w. Mills inventory 3.55 million tonnes, down 274,600 tonnes w-o-w. Circulation inventory 7.93 million tonnes, up 731,300 tonnes w-o-w. –    Many steel …

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European Close

The Dalian Iron ore had given up its late gains overnight and closed unchanged on the day this morning.  The Doji star had indicated indecision in the market and warned we could potentially see some form of market pullback in the evening session. Price has held resulting in the offshore contract moving 1 dollar higher …

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DCE continues bullish run on better steel prices

Iron ore futures rallied on better steel margins and rode on global market optimism due to Covid-19 vaccine breakthrough. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange rose by 1.66 % or RMB 13.50 day-on-day to RMB 825.50 /mt on Tuesday. The steel rebar contract on the Shanghai Futures Exchange …

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European close 9/11/20

The choice oh sources is endless, but we will use Bloomberg for the headline of the day ‘stocks surge to All-time high on vaccine optimism’ with a sub-headline ‘ Pfizer’s Covid Shot prevents 90% of infections in large study’. Equities are making new highs, oil is up 7.2% to USD 42.46, having traded as high …

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