Iron Ore DCE January Daily Technical Review Aug 19th

Verdict – Short-term neutral. DCE iron ore slightly corrected during the day. From hourly chart, CCI created bearish divergence with candles during last night. Slow stochastic KD created dead cross on overbought area at the same time. MACD potential create dead cross in next few hours. If a breakdown on 850.0, the next target is …

Daily Ferrous Physical Review Aug 19th

Ferrous Market –    Iron ore 45 port arrivals at 26.57 million tonnes, up 983,000 tonnes w-o-w. Northern six port arrivals at 13.30 million tonnes, up 1.96 million tonnes w-o-w. –    MySteel Australia and Brazil iron ore total delivery at 25.64 million tonnes, up 1.587 million  tonnes. Australia iron ore delivery 17.97 million tonnes, up 1.53 …

Another short trading week for Capesize

It was another short trading week for the Capesize market in view of the South Korean public holidays. Thus, the Capesize 5 time charter average slipped down slightly by $16 day-on-day to $19,900 on Monday, as the paper traded at very narrow range with thin volumes. Despite the flattish Capesize market, the Baltic Dry Index …

DCE rallies higher on tight supply and monetary policy

DCE rallies higher on tight supply and monetary policy Iron ore futures closed higher upon better buying interest amid supply tightness of medium grade ores among dockside stocks. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange continued to rally higher by 3.48% or RMB 29 day-on-day to RMB 863 per …