The Battle of Marathon, the Sacking of Rome, Einstein developing his theory of General Relativity, the Great Depression, The Second World War, the birth of John B, the launch of the PlayStation 2. All are seismic events that have forged and influenced human history. These and so many other events had a profound effect on …
Tag archives: IO
Oil and Ore Intraday Morning Technical
Iron Ore DCE September Daily Technical Review Jul 24th
Verdict – Short-term bearish. Iron ore corrected two rounds during Asian hours and both with significant volume. From hourly chart, iron ore is creating lower highs and lower lows, correcting in a descending channel. Hour MACD is widening. Hourly slow stochastic KD has corrected from overbought area from July 22nd to areas above oversold area. …
Continue reading “Iron Ore DCE September Daily Technical Review Jul 24th”
Daily Ferrous Physical Review Jul 24th
Ferrous Market Updates – MySteel researched 247 steel mills operation rate at 91.02%, up 0.26^ w-o-w, up 5.08% y-o-y. Blast furnace utilisation rate 93.08%, up 0.12% w-o-w, up 6.72% y-o-y. Daily pig iron production at 2.48 million tonnes, up 3,200 tonnes, up 178,800 tonnes w-o-w. – Mysteel 45 ports iron ores inventory 113.25 million tonnes, …
London Iron Ore Market Report
DCE corrects on narrowing steel margins
Iron ore future saw a slight correction and retreated from the recent rally due to narrowing steel margins. Thus, the most-traded iron ore for September delivery on China’s Dalian Commodity Exchange slipped slightly by 0.29% or RMB 2.50 to RMB 845.50 per tonne on Thursday. On the contrary, the steel rebar contract on the Shanghai …
Iron Ore DCE September Daily Technical Review Jul 23rd
Verdict – Short-term consolidation. Iron ore closed slight higher than last closing however created lower highs and lows, indicating exhausting in current trading days. The support observed from hourly chart at 835.0. The resistance is a descending line connecting 861.5, 854.5 and 849.5. However be aware of the divergence of last minute market between rebar(up) …
Continue reading “Iron Ore DCE September Daily Technical Review Jul 23rd”
Daily Ferrous Physical Review Jul 23rd
Ferrous Market Updates – MySteel Rebar Inventory: Rebar production 3.83 million tonnes, down 0.03% w-o-w. Mills inventory 3.43 million tonnes, up 3.63% w-o-w. Circulation inventory 8.55 million tonnes, up 1.57% w-o-w. – CISA: mid-July major mills crude steel daily production 2.14 million tonnes, up 0.36% from early July. Pig iron 1.91 million tonnes, down 0.42% …
Iron Ore DCE September Daily Technical Review Jul 22nd
Verdict – Short-term consolidation. Iron ore tested high and give back all gains, along with 4% of open interest loss in last twenty minutes. Return to bull market needs a breakthrough on 861.5. From hourly chart, Slow stochastic created a dead cross near overbought area. CCI created dead cross with iron ore price. Slow stochastic …
Continue reading “Iron Ore DCE September Daily Technical Review Jul 22nd”
Daily Ferrous Physical Review Jul 22nd
Ferrous Market Updates – Ganggu construction steel production 5.79 million tonnes, up 0.41% w-o-w. Mills inventory 5.28 million tonnes up 4.59% w-o-w. Circulation inventory 11.25 million tonnes, up 1.17% w-o-w. – MySteel Australia and Brazil iron ore delivery at 24.2 million tonnes, up 925,000 tonnes w-o-w. Australia delivery to China 16.46 million tonnes, up 1.998 …