Tag archives: IO

Daily DCE Review 2/3/21

Iron ore futures rallied at the close of afternoon session, due to market optimism over high steel demand during construction season. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then rose by 1.49% day-on-day or RMB 17 to RMB 1,154.50/mt on Tuesday. The steel rebar contract on the Shanghai Futures Exchange …

Continue reading “Daily DCE Review 2/3/21”

Daily Capesize Review 1/3/21

Capesize freight rates dipped lower on thin market activities, due to trade participants’ concerns over unfavorable weathers and lengthy ballaster list. The Capesize 5 time charter average then dropped by $255 day-on-day to $11,679 on Monday, due to weak physical market. The Baltic Dry Index (BDI) also fell further by 1.43% or 24 points to …

Continue reading “Daily Capesize Review 1/3/21”

Daily DCE Review 1/3/21

Iron ore futures opened high, but only to dip at afternoon session, due to poorer economic indicators from China. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then dropped by 0.83% day-on-day or RMB 9.50 to RMB 1,132.50/mt on Monday. The steel rebar contract on the Shanghai Futures Exchange also went …

Continue reading “Daily DCE Review 1/3/21”

Iron Ore DCE May Daily Technical Review 1/3/21

Verdict – Short-term neutral. DCE iron ore corrected and price movement were slow after Chinese New Year. The first support on 1089.5 was higher than 1041, which was the lower bound of gap created during the first day after Chinese New Year. However hourly candles created a descending tunnel with lower highs and lows. Hourly …

Continue reading “Iron Ore DCE May Daily Technical Review 1/3/21”

Ferrous Daily Physical Review 1/3/21

Ferrous Market –    In the year 2020, China crude steel production 1.06 billion tonnes, up 7% y-o-y. Steel production 13.25 billion tonnes, up 10% y-o-y. China export 53.67 million tonnes of steel, down 16.5% y-o-y. Import steel 20.23 million tonnes, up 19.8% y-o-y. –    Steel bank construction steel inventory 9.81 million tonnes, up 9.14% w-o-w. …

Continue reading “Ferrous Daily Physical Review 1/3/21”