FIS API Blog
Verdict – Short-term neutral. DCE iron ore rebounded during the day. However iron ore created lower highs and lows over this week, indicating the consolidation area is narrowing. A rejection on 851.5 would stuck iron ore in consolidation area. The test low area is from 807.5- 820.0, where iron ore saw strong support. From hourly …
Continue reading “Iron Ore DCE January Daily Technical Review Aug 14th”
Ferrous Market – Arcelor Mittal planned to build a 1.5 mtpa EAF furnace in AM/NS Calvert, a U.S. steel mill. – China eastern cement price up 30 yuan to 370 yuan, reached the high before rainy season in July. Cement in eastern areas up 50 yuan in total in August. – Mysteel 45 major ports …
Soy Castaway Podcast. Join us for our 20th edition, where we are joined by Chris Pardey our agriculture expert (outstanding in his field) as he joins in our panel discussion about freight and commodity markets. Available now on the FIS website (https://freightinvestorservices.com/blog/fis-castaway-eps-20-unprecedented-coverage-in-unprecedented-times/ ) Spotify https://open.spotify.com/episode/5zq56HOVC5DRP6gPBw5AA5?si=OrkWqJAvTCymSwG-vKBfvQ And Apple https://podcasts.apple.com/gb/podcast/fis-castaway/id1507094242#episodeGuid=80b302ce-68c9-9fe7-0f6e-774d50501338
Iron ore futures rebounded on Thursday over higher buying interests for limited mainstream Australian fines. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange then rose slightly by 0.85% or RMB 7.00 day-on-day to RMB 826.50 per tonne on Thursday. On the contrary, the Shanghai Futures Exchange stayed rather flattish before dipping …
Continue reading “DCE bounces back on better buying interests”
Verdict – Short-term neutral. DCE iron ore tested low and recovered most of losses. Daily slow stochastic KD created dead cross in overbought area. CCI created bearish divergence with iron ore price since August 6th. This bearish divergence normally indicate price has correction risk. The return to bull needs a breakthrough on 851.5. A breakdown …
Continue reading “Iron Ore DCE January Daily Technical Review Aug 13th”
Ferrous Market – Ukraine export 27.03 million tonnes of iron ore from this January to July, up 16% y-o-y. – China National Statistic Bureau: major steel enterprises crude steel daily production 2.15 million tonnes, down 0.87% from late July, up 5.14% y-o-y. Daily pig iron 1.92 million tonnes, down 0.6% from end July, up 5.39% …
Iron ore futures dropped on Wednesday over the port congestion issues in China which were likely to ease only in late August. Thus, the most-traded iron ore for September delivery on China’s Dalian Commodity Exchange dipped by 0.89% or RMB 7.50 day-on-day to RMB 832.50 per tonne on Wednesday, despite a late rally at the …
Verdict – Short-term neutral. DCE iron ore pushed high along with equities after a test low around 807.5, which was a strong level previously. From hourly chart, iron ore on the “right shoulder” was higher than the “left shoulder”. The next breakthrough on 851.5 will bring iron ore back to bullish market. Hourly MACD is …
Continue reading “Iron Ore DCE January Daily Technical Review Aug 12th”
