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 …

Daily DCE Review 2/7/21

Iron ore futures closed the week on slight gains, amid bearish market sentiments of low steel demand and high port inventory. The futures of Dalian Commodity Exchange (DCE) for September delivery then rose slightly by 0.77% day-on-day or up RMB 9 to RMB 1,182.50/mt at the close of day trading session on Friday. The rebar …

Iron Ore DCE Sep Daily Technical Review 2/7/21

Verdict – Short-term neutral. DCE iron ore September contract tested low, however which was higher than the lower bound of consolidation range. Thus iron ore maintained in the consolidation range. Iron ore started to rebound during the last two hours, however volume was small. Iron ore technically consolidate in narrower range bounds. Hourly slow stochastic …

Daily Virtual Steel Mill Report 2/7/21

Market Verdict on Iron Ore: ·         Iron ore short-run neutral to bearish. Macro ·         China Caixin PMI 51.3, estimate 51.8, last 52. ·         IMF predicted U.S. inflation rate will keep above 2%. IMF also predicted U.S. federal will increase interest rate from the end of year 2022 to early 2023. Iron Ore Key Indicators: ·         …

FIS Singapore Iron Ore Derivatives Report 01/07/2021

Market Commentary Iron ore futures extended the gains on Thursday despite rising steel stockpiles and weaker-than-expected factory activity. China’s factory activity expanded at a slower pace in June, as the resurgence of coronavirus cases in the export province of Guangdong and supply chain woes drove output growth to the lowest in 15 months, the Caixin/Markit …

Daily DCE Review 1/7/21

Iron ore futures rebounded on Thursday, due to supply tightness and expected reduced steel output for the second half of the year. The futures of Dalian Commodity Exchange (DCE) for September delivery then rose by 1.08% day-on-day or up RMB 12.50 to RMB 1,166/mt at the close of day trading session on Thursday. The rebar …