FIS API Blog
Verdict – Short-term neutral. DCE iron ore tested low over last night and recovered the loss during day session. Daily iron ore closed with a doji. Both high and lows are narrower than yesterday. The strong support is on 823.5 area, price reverse several times during this week. If iron ore breakthrough 845.0, it will …
Continue reading “Iron Ore DCE September Daily Technical Review Jul 15th”
Ferrous Market Updates – Ganggu Construction Steel Inventory: production 5.77 million tonnes, up 15,700 tonnes w-o-w. Mills inventory 5.05 million tonnes, down 354,300 tonnes w-o-w. Circulation inventory 11.13 million tonnes, up 207,000 tonnes w-o-w. – MySteel 45 port previous week iron ore arrived 23.45 million tonnes, down 656,000 tonnes w-o-w. Northern six ports arrivals at …
Iron ore futures have been – and remain – an enigma in the commodity markets since the start of the COVID-19 pandemic. The widow-maker is the title of one article on Bloomberg and this is hard to argue; the rhetoric has been about the correction that is coming, not the bull market we have been …
Iron ore futures advanced on Tuesday on renewed optimism over a swift economic recovery in China and hopes for further demand after the rainy season. The world’s biggest steel producer brought in 101.68 million tonnes of iron ore last month, surging from 87.03 million tonnes in May, data from the General Administration of Customs …
Continue reading “Iron ore futures firmer as Australian volumes surge”
Ferrous Sector Money-flow: The previous weekly report gave seven weeks of short-run consolidation from the end of May when seeing the open interest peak for DCE market. However market was strong by the first half of July. Open interest indicated most of the push was due to exit of shorts and re-entry as new …
Continue reading “FIS Weekly Ferrous: iron ore neutral but risk remains”
Iron ore futures rose for the second consecutive day on Tuesday, in view of supply tightness in the market. At the closing of the afternoon session, the most-traded iron ore for September delivery on China’s Dalian Commodity Exchange went up by 2.44 % or RMB 20 day-on-day to RMB 838.50 a tonne. Likewise, the steel …
Iron ore futures rallied sharply on the first trading day of the week on market optimism over steel demand as China’s recovery gathered momentum. An upturn in industrial output suggests that the economy expanded in last quarter after cratering in the opening three months due to the coronavirus impact, according to Bloomberg Economics. The robust …
