FIS API Blog
Verdict – Short-term bearish. DCE iron ore tested high below 809.0 on Friday night session, however corrected deeply during Monday. From hourly chart, the rejection around 809.0 area indicated iron ore shift back to bearish territory. Iron ore potentially test 751.5, which was a three month low level. CCI rebounded from the lowest level last …
Continue reading “Iron Ore DCE January Daily Technical Review Oct 19th”
Ferrous Market – Steelbank Inventory: construction steel inventories 6.73 million tonnes, down 7.94% w-o-w. HRC 6.38 million tonnes, down 4.83%. – World Steel Association: 2o2o Global steel demand down 2.4% y-o-y to 1.725 billion tonnes. Year 2021 steel demand recovered to 1.795 billion tonnes, up 4.1% estimated. – MySteel 45 ports iron ore inventories at …
Is the market taking a rest, or is it bullish? This is the question that traders need to ask when looking at the iron ore. Four bearish days have been capped by two bullish days (one bullish and a push into the night session) with the futures up 1.6% at USD 116.76, this would suggest …
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004 US (KS): …
A total of 1.5 million mt of iron ores was traded for the week ended Oct 16, up almost 8.7% week-on-week as compared to the 1.38 million mt recorded as of Sep 30. The uptick in trading volumes was due to the return of Chinese participants from the weeklong National Day holidays in early October. …
Continue reading “A decent rebound for the post-Golden week”
Iron ore futures ended the week in decline due to high port inventory and slow steel demand in China. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange dipped down by 0.63% day-on-day to RMB 785.50 per tonne on Friday. The steel rebar contract on the Shanghai Futures Exchange remained flattish …
Continue reading “DCE dips further as port inventory reaches 7-month high”
Verdict – Short-term neutral. DCE iron ore exhausted on previous correction and created a doji during the day. However the previous support removed from 783.5 to 776.5, iron ore still created lower lows and lower highs. From hourly chart, slow stochastic KD created gold cross and widened. MACD is narrowing and potentially create gold cross. …
Continue reading “Iron Ore DCE January Daily Technical Review Oct 16th”
Ferrous Market – Mysteel researched 247 blast furnace operation rate at 88.41%, down 0.78% w-o-w. Utilisation rate 92.91%, down 0.30% w-o-w. Daily pig iron production 2.47 million tonnes, up 8,000 tonnes. – MySteel 45 ports iron ore inventories at 122.39 million tonnes, up 1.78 million tonnes w-o-w. Daily evacuation 3.12 million tonnes, down 58,500 tonnes …
For iron ore, the bearish rhetoric is increasing as we continue to hear about global supply. The November futures have now seen four days of negative price action and this is getting buyers anxious, as the price must be justified when you are USD 40 above 5-year average values. USD 108.84 is the next logical …
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004 US …
