Tag archives: IO

Verdict – Short-term neutral. DCE iron ore extended the rebound, however resisted by 1017.0 level twice during the day. A breakthrough on 1017.0 would keep push iron ore price. From hourly chart, MACD was flattening. Hourly KD created a dead cross on overbought area. Hourly CCI corrected from this morning and created bearish divergence with …

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Ferrous Market –    MySteel 45 ports iron ore inventories at 125.19 million tonnes, up 186,900 tonnes w-o-w. Daily evacuation 3.28 million tonnes, up 239,400 tonnes w-o-w. Australia iron ore 58.49 million tonnes, up 237,000 tonnes w-o-w. Brazil iron ore 43.59 million tonnes, down 119,800 tonnes w-o-w. 169 ships at ports, down 32. –    India financial …

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Verdict – Short-term neutral. DCE iron ore rebounded significantly in the afternoon session, along with major commodities and Shanghai equity all recovered the sentiments and rebounded before and after lunch. However open interest and volume growth were not significant, indicating a testing period for market to return to neutral. A breakthrough on 1008.0 area would …

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Ferrous Market –    Tangshan 10 sample steel mills pig iron before tax 3117 yuan/tonne, billet cost 3956 yuan/tonne, down 1 yuan/tonne w-o-w. Gross profit -106 yuan/tonne, down 9 yuan/tonne. –    Tangshan billet lock price at 3850 yuan from Feb 2 – 17th(16 days), a 7 year high price during Chinese New Year. 3300 yuan(22 days) …

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