Iron ore futures continued to rally on better economic indicators from China, despite market concerns over slower restocking activities and rising coronavirus cases in Hebei. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) then, rose by 1.65% on-day or RMB 17.50 to RMB 1,075/mt on Monday. The steel rebar contract on …
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Ferrous Daily Physical Review 18/1/21
Ferrous Market – China National Bureau of Statistics: China 2020 crude steel production 1.05 billion tonnes, up 5.2% y-o-y. Pig iron production 887.52 million tonnes, up 4.3% y-o-y. Steel production 1.32 billion tonnes, up 7.7% y-o-y. – A fire that broke out early Thursday at one of Vale’s ship loaders in northern Brazil was contained …
Iron Ore DCE May Daily Technical Review 18/1/21
Verdict – Short-term neutral. DCE iron ore created new high since 22/12/2020. Currently iron ore created three dojis during last three hours from hourly chart, indicating the rebound was exhausted at the moment. However in mid-run iron ore created 1069.5- 1079 – 1084.5, higher highs over the new year. Thus mid-run was in neutral to …
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European Close 15/1/21
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London Iron Ore Market Report 15/1/21
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Iron Ore Offshore Nov 20 Morning Technical Comment – 240 Min Chart (rolling contract) 15/1/21
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Ferrous Trade Weekly Review 15/1/21
A total of 1,160,000 mt of iron ores was traded for the week ended Jan 15, around half of the volume compared to last week, due to market uncertainty over slow steel demand. Furthermore, market participants were concerned about rising coronavirus cases in Hebei, the steel-making hub province of China. Though, there was no report …
Daily DCE review 15/1/21
Iron ore futures continued to rally on restocking demand and tight supply concerns over Brazilian and Australian ores due to unfavorable weather conditions. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) then, rose by 1.45% on-day or RMB 15 to RMB 1,053/mt on Friday. The steel rebar contract on the Shanghai …
Ferrous Daily Physical Review 15/1/21
Ferrous Market – MySteel 45 ports iron ore inventories at 124.12 million tonnes, up 1.45 million tonnes w-o-w. Daily evacuation 2.97 million tonnes, down 57,600 tonnes w-o-w. Australia iron ore 58.69 million tonnes, up 95,000 tonnes w-o-w. Brazil iron ore 41.94 million tonnes, up 1.50 million tonnes w-o-w. 172 ships at ports, up 13. – …
Iron Ore DCE May Daily Technical Review 15/1/21
Verdict – Short-term neutral. DCE iron ore spiked and corrected back in the afternoon session. Today is the last trading day of Jan contract, which will enter physical delivery window next week. Rebar may contract becomes higher than physical price. Slow stochastic KD created dead cross near overbought area. Hourly MACD was flattening in bearish …
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