Chinese futures ended the week on high note, due to better buying interests over tightness in port inventory. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, hiked by 3.33% on-day to RMB 668 per tonne at Friday. Following the rally, the steel rebar contract on the Shanghai Futures …
Category archives: Ferrous
China’s Industrial Economy Improves While Consumers Remain Wary
China’s industrial output increased in April for the first time since the coronavirus outbreak, adding to early signs of a recovery that economists cautioned would be slow and challenging. Industrial output rose 3.9% from a year earlier, reversing a drop of 1.1% in March, data showed Friday. Fixed-asset investment decreased 10.3% in the first four …
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DCE rebounds for the second day on better output
Chinese futures continued to rally for second consecutive day on higher production and margins. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, hiked by 1.09% to RMB 647.50 per tonne at Thursday. On the contrary, the steel rebar contract on the Shanghai Futures Exchange had slid slightly with …
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Is Brazilian iron ore supply about to come under pressure?
The fact that the Colombian government feels the need to militarize the border tells us all we need to know about the Covid-19 situation in Brazil. Fast becoming a global hotspot, neighbouring nations are become increasingly concerned by the country’s failure to tackle the pandemic with the same aggressive tactics that we are seeing internationally. …
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Iron Steady With Focus on China Stimulus, Steel Output
Iron ore futures steadied as investors focused on measures in China to shore up economic growth, as well as the outlook for demand. The People’s Bank of China recently vowed to deploy “more powerful” policies, without giving further details on what measures it will use, and key government meetings starting next week may approve more debt sales among …
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Iron Ore to Fall to $70 as Market Moves to Surplus, Goldman Says
The global iron ore market will have a surplus of 4 million tons this year on higher shipments and lower steel demand outside of China, according to Goldman Sachs Group Inc. in a revised projection. Previous expectation was a 30 million-ton deficit, analysts including Paul Young said in a report dated Thursday Market to move into a surplus in …
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DCE rallies from improving steel margins
Chinese futures rallied on better steel margins, which prompted more mills to ramp up production. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, hiked by 2.14% to RMB 645.50 per tonne at Wednesday However, the steel rebar contract on the Shanghai Futures Exchange was mostly flat throughout the …
Iron Ore Offshore June 20 Morning Technical Comment – 240 Min Chart
Indonesia Revamps Law to Unlock Billions of Mineral Riches
Indonesia’s parliament approved sweeping changes to the nation’s mining law, allowing the world’s top nickel and coal producer to hand out longer contracts to companies pledging to invest billions of dollars to develop the industry. The amendments, cleared by lawmakers on Tuesday, will help Indonesia create a supply chain of mineral resources for industries such …
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Australian Weekly Exports Drop to 16.8 Mln Tons
Shipments from Australia including Port Hedland total 16.8 million tons in week to May 8, compared with 18.9 million tons a week earlier, according to Global Ports data in AHOY compiled by Bloomberg. * From Port Hedland: 9.7 million tons ** NOTE: Port Hedland used by miners including BHP Group, Fortescue Metals Group Ltd. and …
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