FIS API Blog
Verdict – Short-term neutral. DCE iron ore Jan contract created historic high overnight and however lose most of the intra-day gains during the Asian day session. Jan long positions were rolling to May which caused a quick narrow on Jan-May. From hourly chart, MACD is narrowing. Slow stochastic KD created dead cross before noon. CCI …
Continue reading “Iron Ore DCE January Daily Technical Review Nov 27th”
Ferrous Market – Mysteel 64 steel mills seaborne sintered iron ore inventory 17.64 million tonnes. Iron ore inventory turnover in 26 days. – Mysteel steel mills import iron ore inventory 114.45 million tonnes, up 1.9 million tonnes w-o-w. Sintered iron ore daily consumption 3.04 million tonnes, up 29,400 tonnes w-o-w. – MySteel 45 ports iron …
BHP today reinforced expectations that the current strength in steel demand will extend into 2021. Earlier in the week it was a roundtable with Morgan Stanley and now UBS (Bloomberg). The reiterating of the message seems to be sinking in, with the December contract trading up to a new high of USD 127.64, whilst the …
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Iron ore futures surged since opening session and closed higher at the afternoon session, amid market optimism for better steel demand. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange went up by 2.11% or RMB 18.50 day-on-day to RMB 897/mt on Thursday. The steel rebar contract on the Shanghai …
Verdict – Short-term neutral. DCE iron ore Jan contract attracted 469 million yuan money inflow during the day, while rebar jan evaporated 328 million yuan. Iron ore May contract rebound 1% more than Jan contract due to rolling. However DCE Jan contract still double the positions of May contract. The completion of rolling is expected …
Continue reading “Iron Ore DCE January Daily Technical Review Nov 26th”
Ferrous Market – MySteel Rebar Inventory: Rebar production 3.60 million tonnes, up 0.03% w-o-w.Mills inventory 2.33 million tonnes, up 0.15% w-o-w. Circulation inventory 4.5 million tonnes, down 7.68% w-o-w. – Mongolia built a “green area” at the port to help the virus tests on coal truck drivers. Thus port operation became more efficient, however current …
Iron ore Futures continue to trade sideways with the futures close the session in line with the previous two days. Futures prices remains supported after Fortescue metals Group COO reported the current market is strong, as steel production in China continues to grow (Bloomberg). Steel Margins are off 1% as DCE coking coal continues to …
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): +1 813 490 6630
FIS Castaway Podcast – Episode 34 End-of-year-feeling in your markets? Longing to get away? Join the team as they wing it and discuss the new Baltic Exchange Air Freight Index on this week’s Castaway. Listen Below: Website https://freightinvestorservices.com/blog/fis-castaway-eps-34-unprecedented-coverage-in-unprecedented-times/ Spotify https://open.spotify.com/episode/7r7JbKKTNmQpeixCtny9nY?si=r2XtU0CQQ5SBcuCyFAPnxA And Itunes https://podcasts.apple.com/gb/podcast/fis-castaway/id1507094242#episodeGuid=06ee4a8d-2a0f-33eb-1f6b-831061b25ff1 Disclaimer: freightinvestorservices.com/castaway-disclaimer/
