Verdict – Short-term neutral. DCE iron ore rejected by 1069.5, the important resistance level. From hourly chart, hourly MACD created gold cross. Slow stochastic KD widened and increase. CCI created new high during the week. Technical signals were indicating potential to create new high. The first support is 1005.0. The first resistance is 1069.5
Category archives: Products
Supramax & Handysize FFA Daily Report
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Capesize & Panamax FFA Daily Report
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Oil and Ore Intraday Morning Technical
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More iron ore price corrections after stricter trading measures
A total of 770,000 mt of iron ores was traded for the week ended Dec 24, less 7.23% on-week as compared to the trade volume of 770,000 mt recorded last week. Benchmark iron ore prices peaked above $175/mt since the start of the week, but soon dropped as Dalian Commodity Exchange (DCE) imposed stricter measures …
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Steel & Scrap Morning Report
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Morning Oil Report
Good morning all, Merry Christmas eve! Wishing all of you a very merry Christmas with your nearest and dearest in what has been a very difficult year. May 2021 bring you more happiness and health! Luke, Ricky, Jarryd, Sam and the FIS Fuel Oil desk cannot thank you enough for all the support throughout …
DCE rebounds despite strict trading restrictions
Iron ore futures rebounded over buoyant market outlook, despite DCE’s tightening of trading limits. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) rose slightly by 0.93% or RMB 9.50 to RMB 1,036/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange however, dropped by 0.39% or RMB 17 day-on-day …
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Capesize rates rise on good shipping outlook
Capesize freight rates rose by year-end, due to better physical freight rates supported by firm iron ore prices. The Capesize 5 time charter average then hiked up by $940 day-on-day to $16,409 on Wednesday, amid good traded volume and strong index. The Baltic Dry Index (BDI) followed the upward market movement and rose slightly by …
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Daily Ferrous Physical Review Dec 24th
Ferrous Market – Tangshan 10 sample steel mills pig iron before tax 2702 yuan/tonne, billet cost 3474 yuan/tonne, up 110 yuan/tonne w-o-w. Gross profit 396 yuan/tonne, up 100 yuan/tonne. – China will reduce some waste metal custom tax to 0. Mongolia coke custom tax reduced from 5% to 2.5%. – MySteel Rebar Inventory: Rebar production …