Ferrous Trade Weekly Review 5/2/21

A total of 1,340,000 mt of iron ores was traded for the week ended Feb 5, down 22% as compared to previous week. During the week, most end-users were heard to complete their restocking activities, though the demand for post-Lunar New Year holiday remained high, as market participants expected the Beijing policymakers to introduce some …

Daily DCE Review 5/2/21

Iron ore futures continued to rally on market anticipation of better post-Lunar New Year demand that bounced futures contract to the RMB 1,000/mt mark. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then hiked up by 4.20% day-on-day or RMB 40.50 to RMB 1,004.50/mt on Friday. The steel rebar contract on …

Iron Ore DCE May Daily Technical Review 5/2/21

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 …

Ferrous Daily Physical Review 5/2/21

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 …

Daily DCE Review 4/2/21

Iron ore futures jumped on better post-Lunar New Year demand, which resulted a rally in the afternoon session. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), jumped by 5.26% day-on-day or RMB 49.50 to RMB 991/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange also rose by 1.94% …