Tag archives: IO

Ferrous trade weekly review 16/7/21

A total of 1.16 million mt of iron ores was traded for the week ended Jul 16, after steel output cut was relaxed from early July, which led to more steel consumption and demand. However, many trade participants saw the relaxation as temporary and expected further production cuts in H2 2021 in effort to cut …

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Daily DCE Review 16/7/21

Iron ore futures rose on Friday trading session, as steel consumption increased, and market participants anticipated more stimulus measures during H2 2021. The futures of Dalian Commodity Exchange (DCE) for September delivery then went up by 1.89% day-on-day or RMB 23 to RMB 1,241/mt during the day trading session on Friday. The rebar futures also …

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Daily Virtual Steel Mill Report 16/7/21

Market Verdict on Iron Ore： ·         Iron ore short-run neutral. Macro ·         China Q2 GDP grew by 7.9% year on year and 18.3% in Q1. In the first half of the year, the GDP was 53216.7 billion yuan, a year-on-year increase of 12.7%, 5.6% lower than that in the first quarter. ·         In June, the …

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Daily DCE Review 15/7/21

Iron ore futures hiked up on Thursday trading session, finding supports from high steel prices, though market concerns over the upcoming production cuts. The futures of Dalian Commodity Exchange (DCE) for September delivery then went up by 1.61% day-on-day or RMB 19.50 to RMB 1,234/mt during the day trading session on Thursday. The rebar futures …

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Iron Ore DCE Sep Daily Technical Review 15/7/21

Verdict – Short-term neutral. DCE iron ore September rebounded for the fourth day of the week, however the high of the day was still below major resistance level around 1152.0. Hourly MACD flattened. Hourly CCI corrected from the bullish area. Hourly slow stochastic KD rebounded slowly. Technical signals were indicating an exhaustion of the rebound. …

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Daily Virtual Steel Mill Report 14/7/21

Market Verdict on Iron Ore： ·         Iron ore short-run neutral. Macro ·         China State Council conference mentioned to inspect the illegal speculation on commodities and tax evasion, which disturbed the market environment and the tax revenue. ·         U.S. June PPI reached 7.3%, core PPI reached 5.6%, both created record high. U.S. Federal Powell indicated Federal …

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