FIS API Blog
Chinese futures came slightly flat today after a selloff in the morning session, before recovering loss grounds later at afternoon session. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, edged up slightly by 0.40% day-on-day to RMB 755 per tonne on Wednesday. Likewise, the steel rebar contract on …
Continue reading “DCE flattens after Vale’s supply assurance”
Verdict – Short-term consolidation. DCE iron ore closed at 755.0 yuan slight lower than previous 757.0 yuan. The trading volume narrowed with a slight increase on open interest. From hourly chart, slow stochastic created second lower dead cross above overbought area, however flattened. Daily candles created a doji, and iron ore entered a symmetrical triangle …
Having initially reacted negatively to the the Chinese stimulus two weeks ago the futures found buying support at the 55 day average. The bulls maintain control pushing the futures back to (and slightly above) the highs from the 21 – 05 – 20 Control, but not dominance, four days of upward price action is …
American corn farmers are feeling better about their prospects with billions more in government aid and optimal growing conditions. There’s only one downer — demand. Much of the U.S. biofuel industry is still limping along even as the economy ramps up from coronavirus-related lockdowns. While some plants have switched to making hand sanitizer, that …
Continue reading “American Farmers Awaiting Bumper Corn Crop Need Ethanol Demand”
In the global iron ore market right now it’s a tale of two very different exporters. While mining majors in Australia are going flat out and the country may be shipping record volumes, rival Brazil has seen stunted flows with the coronavirus pandemic restraining operations. The contrasting fortunes of the pair — which between them account more than …
Continue reading “The Iron Ore Market Is Polarized as Australia Booms, Brazil Lags”
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