Daily DCE Review 2/2/21

Iron ore futures continued to slump further on Tuesday, following similar downward trend at the start of week, due to thin market activities. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), thus dropped by 5.61% day-on-day or RMB 55.50 to RMB 933.50/mt on Tuesday. The steel rebar contract on the Shanghai …

Oil and Ore Intraday Morning Technical 01/02/21

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Daily DCE Review 1/2/21

Iron ore futures opened high, only to close lower later at the afternoon trading session, due to softer China’s economic indicators and lower construction activities. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), thus dipped by 0.76% day-on-day or RMB 7.50 to RMB 977.50/mt on Monday. The steel rebar contract on …

Iron Ore DCE May Daily Technical Review 1/2/21

Verdict – Short-term neutral to bearish.   DCE iron ore corrected during the day. Iron ore consolidated for most of January. The breakdown on 1005.5 would potentially trigger a big level correction. Hourly CCI created double tops and potentially reach the weak area below -100. Houly MACD was flattening. The short-term signals were indicating an …

Ferrous Daily Physical Review 1/2/21

Ferrous Market –    Australia Pilbara Ports Authority sent a cyclone notice late last week, the cyclone passed by the Hedland port area, which was cleared during weekends. However the cyclone has left the coastal area on Monday, detail impact on delivery to be announced. –    FMG SSF discount expanded to 11% from 10% in January. …