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: Products
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 …
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Soybeans Hold Best Gain This Month as China Seeks More Supplies
Soybean futures held on to Tuesday’s gain, the biggest since the end of April, as state-run Chinese companies return to the market for American supplies after a jump in Brazil’s currency made U.S. beans more competitive. Soymeal futures in Dalian climbed to the highest in over a month. China has been bidding on new crop …
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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 …
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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 …
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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 …
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Capesize bull run takes a breather
Capesize market slowed after the recent rally in shipping rates, as trade sources seek for clearer market direction ahead. As such, the Capesize 5 time charter average slid slightly by $56 to $4,140 on Friday, as the market approached the long weekend. There was a prompt selloff of June contracts earlier in trading session, before …
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 …
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