FIS API Blog
Verdict – Short-term neutral. DCE iron ore consolidate in narrow range, open interest continuously exhaust. Iron ore trading range stuck in 737 – 748.5 area for current four trading days. The bigger range from 733.0 to 752.0. Iron ore will keep consolidating if fail to breakthrough the current range. Be aware of Friday games, iron …
Continue reading “Iron Ore DCE September Daily Technical Review Jul 3rd”
Ferrous Market Updates – MySteel 45 ports iron ore inventory at 108.09 million tonnes, up 276,500 tonnes w-o-w. Daily evacuation 3.15 million tonnes down 50,000 tonnes w-o-w. Australia iron ore on ports at 61.49 million tonnes up 156,000 tonnes w-o-w. Brazil iron ore on ports at 22.42 million tonnes up 693,000 tonnes w-o-w. 147 ships …
Chinese futures moved to slight decline over industry concerns over China’s low steel demand in summer season. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, slipped slightly by RMB 3.00 or 0.40% day-on-day at RMB 738.50 per tonne on Thursday. On the contrary, the steel rebar contract on …
Verdict – Short-term neutral. DCE iron ore pushed up during morning session, since DCE coking coal upsoared and support all ferrous products. However iron ore leaked after priced-in the sentiment and massively long covered by the last trading hour. From hourly chart iron ore potentially test low in 730.5 area since previous high rejected below …
Continue reading “Iron Ore DCE September Daily Technical Review Jul 2nd”
Ferrous Market Updates MySteel Rebar Inventory: Rebar production 4.01 million tonnes, up 0.11% w-o-w. Mills inventory 3.44 million tonnes, up 7.12% w-o-w. Circulation inventory 7.97 million tonnes, up 3.83% w-o-w. Mysteel 64 mills import sintering iron ore inventories at 16.79 million tonnes. Import iron ore turnover in 24 days. Southeast Asian steel and iron institute …
*Blast Furnace Game Time?* Steelmakers are planning on restarting several Blast Furnaces after being hot-idled for covid-19 in the US. Sentiment remains that the demand side of HRC is lacking. While US and European HRC curves remain in contango, US BUS scrap is pricing lower prints in Jul20 & Aug20. This has put pressure on …
