Iron ore futures continued their gravity-defying act for another record-breaking run, fueled by speculative trading and robust steel demand in China. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) broke new record with a daily gain of 9.68% to RMB 1,144.50/mt on Monday. The steel rebar contract on the Shanghai Futures …
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Daily Ferrous Physical Review Dec 21st
Ferrous Market – Municipality of Brumadinho, Minas Gerais,have suspended for 7 days, or until the facts of the December 18 accident are clarified.A Vale miner Corrego do Feijao landslide in 18th caused 1 death. However Vale claimed the impact is not included in the production target since this miner is closed after the dam collapse …
Iron Ore DCE May Daily Technical Review Dec 21st
Verdict – Short-term neutral to bullish. DCE iron ore continued the market squeeze and the intra-day high was only 50 cents from limit up. Both SHFE rebar and SHFE HRC reached limit up. A stand on the upper side of the gap at 1100.0 from hourly chart would indicate iron ore potentially maintain strong. The …
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European Close
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London Iron Ore Market Report
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Oil and Ore Intraday Morning Technical
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Another bullish week for iron ore
A total of 830,000 mt of iron ores was traded for the week ended Dec 18, almost thrice of the trade volume recorded last week at 180,000 mt. Iron ore prices continued the rally seen last week with price touching near the $160/mt mark, which resulted some buyers to procure from cheaper portside stocks instead. …
DCE ends the week high above the 1,000/mt mark
Iron ore futures ended the week on record-breaking rally, due to good steel demand, supply concerns and speculative trading. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) maintained above the $1,000/mt mark, after booking a gain of 6.23% day-on-day or RMB 63 to RMB 1,073.50/mt on Friday. Similarly, the steel rebar …
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Daily Ferrous Physical Review Dec 18/12/20
Ferrous Market – MySteel 45 ports iron ore inventories at 124.04 million tonnes, up 2.01 million tonnes w-o-w. Daily evacuation 2.97 million tonnes, down 89,900 tonnes w-o-w. Australia iron ore 58.27 million tonnes, up 265,000 tonnes w-o-w. Brazil iron ore 41.26 million tonnes, up 587,500 tonnes w-o-w. 137 ships at ports, up 28. – Mysteel …
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Iron Ore DCE May Daily Technical Review Dec 18/12/20
Verdict – Short-term neutral to bullish, be aware of reversal on high area. DCE iron ore May refreshed historical high and pick up significantly during the last half hour, indicating massive sellers left. Short squeezing increased pressure on short positions. From hourly chart, MACD increased fast. Hourly slow stochastic KD moved above overbought area. …
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