Tag archives: IO

DCE inches up on better winter demand

Iron ore futures rose slightly, after opening high at the afternoon session but only to slump toward the close. Hence, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange inched up by 0.57% day-on-day to RMB 880/mt on Wednesday. The steel rebar contract on the Shanghai Futures Exchange however, went down …

Continue reading “DCE inches up on better winter demand”

Iron Ore DCE January Daily Technical Review Nov 25th

Verdict – Short-term neutral. DCE iron ore Jan contract tested high two times during the trading day, however resisted by 892.0, which was 2 yuan from previous high. The two pick up both gave back all gains within half hour, indicating some short-run money speculating. Be aware of rebar jan, which had corrected three days by …

Continue reading “Iron Ore DCE January Daily Technical Review Nov 25th”

Daily FerrousPhysical Review Nov25th

Ferrous Market – MySteel Australia and Brazil iron ore total delivery at 23.71 million tonnes, down 2.18 million tonnes w-o-w. Australia iron ore delivery 16.68 million tonnes, down 1.67 million tonnes w-o-w. Australia delivery to China 13.95 million tonnes, down 864,000 tonnes w-o-w. Brazil iron ore delivery 7.03 million tonnes, down 506,000 tonnes w-o-w. – Tangshan 32 mills daily production impacted by maintance …

Continue reading “Daily FerrousPhysical Review Nov25th”

European Close 24/11/20

The December Iron ore futures had a bit of a rebound overnight with price closing 1.09% higher. The rebound has been attributed to lower Brazil shipments and Bloomberg intelligence stating that price will likely stay strong before year end, as steel output remains at high levels. Steel margins remain solid and unchanged at CNY 300 …

Continue reading “European Close 24/11/20”

DCE flattens over market uncertainty

Iron ore futures traded flat on the choppy trading session with bullish opening momentum, but only to ease toward afternoon closing session. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange were flat day-on-day to RMB 876/mt on Tuesday. The steel rebar contract on the Shanghai Futures Exchange then went …

Continue reading “DCE flattens over market uncertainty”

European Close 23-11-20

Steel margins remains supported at CNY 301; however, the iron ore market has now started to come under pressure with yesterday’s futures closing 1.12 % lower at USD 123.35.  Price dropped from a six year high after BHP flagged near-term downside risks to Morgan Stanley at a roundtable last week. BHP cited a rebound in …

Continue reading “European Close 23-11-20”