Tag archives: IO

Verdict – Short-term bearish. DCE iron corrected in narrower range during the day, intra-day low was supported by 783.5, 60 day moving average. Breaking down 777.5- 783.5 area would suggest iron ore entering a long-run bearish market. Otherwise iron ore follow a cyclely correction in weekly level. Iron ore did not test high at all …

Continue reading “Iron Ore DCE January Daily Technical Review Sep 17th”

Ferrous Market –    MySteel Rebar Inventory: Rebar production 3.73 million tonnes, up 0.29% w-o-w. Mills inventory 3.55 million tonnes, down 0.8% w-o-w. Circulation inventory 8.81 million tonnes, down 1.4% w-o-w. –    Ganggu Construction Steel Inventory: production 5.58 million tonnes, down 3,300 tonnes w-o-w. Mills inventory 4.82 million tonnes, down 54,200 w-o-w. Circulation inventory 11.32 million …

Continue reading “Daily Ferrous Physical Review Sep 17th”

Verdict – Short-term bearish. DCE iron ore correct over the second day with increasing volume and open interest, indicating new short positions are dominating the market in short-run. In mid-run, a breakdown on 808.0 level indicating mid-run bearish market. From hourly chart, slow stochastic KD deepened correcting. The first support is 777.5. The first resistance …

Continue reading “Iron Ore DCE January Daily Technical Review Sep 16th”

Ferrous Market –    Construction steel consumption is less than expectation in traditional building season in September. Trading volume is weaker compared to August. In addition, construction steel inventories are at historical high level. –    Mysteel Australia and Brazil iron ore delivery at 26.34 million tonnes, up 2.59 million tonnes. Australia iron ore delivery 18.17 million …

Continue reading “Daily Ferrous Physical Review Sep 16th”