Tag archives: IO

Iron Ore DCE May Daily Technical Review 1/2/21

Verdict – Short-term neutral to bearish.   DCE iron ore corrected during the day. Iron ore consolidated for most of January. The breakdown on 1005.5 would potentially trigger a big level correction. Hourly CCI created double tops and potentially reach the weak area below -100. Houly MACD was flattening. The short-term signals were indicating an …

Continue reading “Iron Ore DCE May Daily Technical Review 1/2/21”

Ferrous Daily Physical Review 1/2/21

Ferrous Market –    Australia Pilbara Ports Authority sent a cyclone notice late last week, the cyclone passed by the Hedland port area, which was cleared during weekends. However the cyclone has left the coastal area on Monday, detail impact on delivery to be announced. –    FMG SSF discount expanded to 11% from 10% in January. …

Continue reading “Ferrous Daily Physical Review 1/2/21”

Ferrous Trade Weekly Review 29/1/21

A total of 1,720,000 mt of iron ores was traded for the week ended Jan 29, up 16.22% as compared to previous week. During the week, there were some market concerns over reduced iron ore imports for 2021, as the Beijing policymakers had reportedly planned to reduce Chinese steel production to cut carbon emission. Nevertheless, …

Continue reading “Ferrous Trade Weekly Review 29/1/21”

Daily DCE Review 29/1/21

Iron ore futures moved flattish throughout the trading day and closed lower at the close, due to market concerns over high steel stockpiles. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) then fell by 2.03% day-on-day or RMB 20.50 to RMB 990/mt on Friday. The steel rebar contract on the Shanghai …

Continue reading “Daily DCE Review 29/1/21”

Iron Ore DCE May Daily Technical Review 29/1/21

Verdict – Short-term neutral to bearish.   DCE iron ore closed similar with last closing, however market volume and interest decreased. Hourly MACD was narrowing below 0 axis. Hourly slow stochastic KD created gold cross above oversold area. Short-run technical signals were indicating the previous correction was slowing.   The first support is 959.0. The …

Continue reading “Iron Ore DCE May Daily Technical Review 29/1/21”

Ferrous Daily Physical Review 29/1/21

Ferrous Market –    MySteel 45 ports iron ore inventories at 125.01 million tonnes, up 625,100 tonnes w-o-w. Daily evacuation 3.04 million tonnes, down 146,900 tonnes w-o-w. Australia iron ore 58.26 million tonnes, up 705,000 tonnes w-o-w. Brazil iron ore 43.71 million tonnes, up 109,200 tonnes w-o-w. 201 ships at ports, up 23. –    MySteel 14 …

Continue reading “Ferrous Daily Physical Review 29/1/21”