FIS API Blog
Verdict – Short-term neutral to bearish. DCE iron ore tested pressure on 805.5 and corrected. Iron ore had tested 803.5-805.5 area for three times from Oct 14th in hourly chart. The iron ore also gradually created strong support in 785.0 area since most of hourly candles have support in this level from Oct 19th. However …
Continue reading “Iron Ore DCE January Daily Technical Review Oct 22nd”
Ferrous Market – Ganggu Construction Steel Inventory: production 5.32 million tonnes, down 98,800 tonnes w-o-w. Mills inventory 4.34 million tonnes, down 215,800 tonnes w-o-w. Circulation inventory 10.07 million tonnes, down 552,800 tonnes w-o-w. – MySteel Rebar Inventory: production 3.59 million tonnes, down 0.21% w-o-w. Mills inventory 3.28 million tonnes , down 3.06% w-o-w. Circulation inventory …
Iron ore flows are strong, suggesting we are looking at an upside countertrend move, unless we see more construction projects announced in China or a stimulus deal agreed in the U.S. We noted that after the last podium performance with Trump and Biden this seemed unlikely. Today Nancy Pelosi announced she was hopeful …
Iron ore futures went up higher following a late rally in the afternoon session due to better buying interests. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange rose by 1.40% day-on-day to RMB 797 per mt on Wednesday. The steel rebar contract on the Shanghai Futures Exchange also inched up …
Verdict – Short-term neutral. DCE iron ore kept rebounding from afternoon session on Oct 19th . From hourly chart, CCI is approaching 2 weeks high from six day low. MACD is also slightly picking up above 0 axis. A rejection on 809.0 area would indicate iron ore return to bearish territory. A breakthrough on this …
Continue reading “Iron Ore DCE January Daily Technical Review Oct 21st”
Ferrous Market – Australia port maintenance estimate cause iron ore decrease on delivery arround 2.17 million tonnes. Brazil maintenance impact 507,000 tonnes. However Australia and Brazil delivery to China proportion both increased, Australia and Brazil iron ore delivery also approaching 4 month high. – Port stock increase enables steel mills have more alternative …
Iron ore is making hard work of its upside push at this point with DCE futures finishing the night session up CNY 6.5 at 692. The offshore came under pressure whilst the DCE was closed with the night session leaving the futures basically unchanged from the previous day’s close. Rhetoric for iron ore bulls …
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As we enter the second half of October, with the darker evenings drawing in, minds will be focusing in on the end of the year and the start to another. It leaves us asking questions about where we are, what might happen and who that’s good or bad for. Or in the style of the …
Continue reading “Ship Shape: The Good, The Bad, and The Ugly”
Money Movement. According to China commodity exchange statistics, agricultural sector money inflow increased 14.99% in the days before Golden Week. The industrial sector increased 23.99%, the petrochemical sector contributed most, up 38.3%. The ferrous sector was up 16.88% over the same period, underperforming other industrial sectors including non-ferrous. Within the ferrous sector, iron ore money …
Continue reading “FIS Weekly Ferrous Report: Iron ore in a short-run bearish trend”
