Daily Ferrous Physical Review Jan 8th

Ferrous Market –    MySteel 45 ports iron ore inventories at 122.67 million tonnes, down 1.49 million tonnes w-o-w. Daily evacuation 3.02 million tonnes, up 221,600 tonnes w-o-w. Australia iron ore 58.598 million tonnes, down 567,000 tonnes w-o-w. Brazil iron ore 40.435 million tonnes, down 349,000 tonnes w-o-w. 159 ships at ports, up 1. –    Mysteel …

Iron Ore DCE May Daily Technical Review Jan 8th

Verdict – Short-term neutral, be aware of taking gains of market. DCE iron ore rebounded with higher highs and lows. However still resisted by 1069.5 in particular during the last trading hour. In short-run, be aware of the taking gains when market reaches 1069.5-1079.0 area. From hourly chart, slow stochastic flattened after a dead cross. …