Tag archives: IO

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 …

Continue reading “Daily Ferrous Physical Review Dec 24th”

Verdict – Short-term neutral. DCE iron ore spiked and retreat from the high during last trading hour. Iron ore consolidate in the range 1027.5- 1059.0 area in short-run potentially. Hourly slow stochastic KD potentially create dead cross. Hourly MACD flattened during last two hours. Technical signals were indicating neutral. The first support is 1127.5. The …

Continue reading “Iron Ore DCE May Daily Technical Review Dec 24th”

Ferrous Market –    Ganggu Construction Steel Inventory: production 5.31 million tonnes, up 40,100 tonnes w-o-w. Mills inventory 4.46 million tonnes, up 47,800 tonnes w-o-w. Circulation inventory 5.58 million tonnes, down 92,600 tonnes w-o-w. –    MySteel Australia and Brazil iron ore total delivery at 25.17 million tonnes, up 2.45 million tonnes w-o-w. Australia iron ore delivery …

Continue reading “Daily Ferrous Physical Review Dec 23rd”

Verdict – Short-term neutral to bearish. DCE iron ore decreased total 10% open interest from Tuesday and Wednesday. From hourly candles, iron ore potentially created a roof area and face mid-run level reversal from peak area. Hourly MACD was narrowing below 0 axis. Hourly candles were continuously decreasing the volatility. Hourly slow stochastic KD created …

Continue reading “Iron Ore DCE May Daily Technical Review Dec 23rd”