Daily DCE Review 5/7/21

Iron ore futures hiked up at the start of the week, as steel production resumed after centennial celebration of political party in early July. The futures of Dalian Commodity Exchange (DCE) for September delivery then rose by 5.51% day-on-day or up RMB 64 to RMB 1,225/mt at the close of day trading session on Monday. …

Iron Ore DCE Sep Daily Technical Review 5/7/21

Verdict – Short-term neutral. DCE iron ore September rebounded significantly during the day session, however price was resisted by 1222.5 level for three times from minute-to-minute chart. Hourly slow stochastic KD potentially flattened. Hourly CCI potentially reverse from the high. Hourly MACD expanded. Short-run technical signals were indicating a temporary breath over a two day …

Daily Virtual Steel Mill Report 5/7/21

Market Verdict on Iron Ore: ·         Iron ore short-run neutral. Macro ·         The number of non-agricultural employment in the United States increased by 850,000 in June, which was larger than expected at 720,000. Last number 559,000. The U.S. unemployment rate in June was 5.9%, estimated at 5.6%, previous 5.8%. Iron Ore Key Indicators: ·         Platts62 …

FIS Singapore Iron Ore Derivatives Report 02/07/2021

Market Commentary Iron ore futures were weaker on Friday amid concerns over China’s demand outlook and rising inflation. The short-term demand of the steelmaking ingredient has hit a snag as China is facing its seasonal lull in demand as construction and manufacturing activities slow in the summer. Recent data also suggest that China’s economic growth …

Ferrous trade weekly review 2/7/21

A total of 1.35 million mt of iron ores was traded for the week ended Jul 2, amid reduced steel production for centenary political party celebration in Jul 1. Thus, many trade participants saw the production cut as temporary and will soon resume after the celebration to support higher steel output in early July. During …