Verdict – Short-term neutral. DCE iron ore tested low at 685.5 for three times and then rebound through Asian hours. However, from daily chart iron ore is walking on a correction tunnel. From hourly chart, CCI has rebounded. Slow stochastic KD created gold cross in Asian morning. Short-term potentially test high. The first support is …
Category archives: Ferrous
China’s Headstart to Recovery Creates Rare Aluminum Trade
China’s race to restore normality has opened up a rare opportunity to profit from shipping aluminum into the country, which is typically burdened by excess supply of the metal. The theoretical margin from importing aluminum into China jumped to the highest level since 2016, according to Bloomberg calculations based on local spot prices and the …
Continue reading “China’s Headstart to Recovery Creates Rare Aluminum Trade”
Iron Ore Drops on Supply Outlook, U.S.-China Tensions
Iron ore futures extended losses as investors focus on the outlook for supply, while deepening strains between China and the U.S. hang over global markets. “Iron ore shipments have increased significantly recently, while port inventories remain at a low level despite the slight rise in volume,” Huatai Futures said in a note. Although supply has …
Continue reading “Iron Ore Drops on Supply Outlook, U.S.-China Tensions”
U.S. Mulls Sanctions on Chinese Officials, Firms Over Hong Kong
The U.S. is considering a range of sanctions to punish China for its crackdown on Hong Kong, people familiar with the matter said, as the Trump administration weighs whether to declare the former colony has lost its autonomy from Beijing. The Treasury Department could impose controls on transactions and freeze assets of Chinese officials and …
Continue reading “U.S. Mulls Sanctions on Chinese Officials, Firms Over Hong Kong”
FIS Daily Physical Review May 27th
Iron Ore and Steel Market Updates – Japan JFE steel will settle the subsidiary Nippon EGalv Steel in Malaysia after a financial loss. The mill will stop operation in this June. – Baffinland Iron Mines will keep operating at 6 million tonnes mtpa before the end of 2021. Indian Sponge Iron Manufacturers Association appealed to …
FIS Weekly Ferrous Report 26052020
Iron ore futures fall as higher shipments ease supply fears
Iron ore futures were softer on Tuesday as data showing higher shipments from Australia and Brazil eased off supply concerns. According to data by Mysteel, shipments from Australia and Brazil were up by 4.08 million tonnes from a week earlier to 26.03 million tonnes. Furthermore, port overhauls in Australia and Brazil was completed on …
Continue reading “Iron ore futures fall as higher shipments ease supply fears”
DCE slides as participants seek clearer direction
Chinese futures continued the downward slope since the start of the week, as market participants waited for clearer market directions. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, dropped by 2.99% day-on-day to RMB 698.50 per tonne on Monday. Similarly, the steel rebar contract on the Shanghai Futures …
Continue reading “DCE slides as participants seek clearer direction”
High volatility expected, but iron ore risks reversal
Ferrous Sector Money-flow: DCE iron ore started to soften after open interest reached a yearly-high, indicating previous longs are taking gains. Coke became the leader of ferrous sector during previous week and early this week. DCE September iron ore total contract value was 65 billion Yuan, the peak in 2019 was 75 billion yuan. However, …
Continue reading “High volatility expected, but iron ore risks reversal”
Slight gains for DCE as market wait for clearer directions from Two Sessions
Chinese futures ended the week on slight gains as trade participants waited for further market direction from China’s Two Sessions. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, gained slightly by 0.77% day-on-day to RMB 716.50 per tonne on Friday. On the contrary, the steel rebar contract on …
Continue reading “Slight gains for DCE as market wait for clearer directions from Two Sessions”