FIS API Blog
Chinese futures continued the downward slope since the start of the week, as market participants waited for clearer market directions. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, dropped by 2.99% day-on-day to RMB 698.50 per tonne on Monday. Similarly, the steel rebar contract on the Shanghai Futures …
Continue reading “DCE slides as participants seek clearer direction”
Ferrous Sector Money-flow: DCE iron ore started to soften after open interest reached a yearly-high, indicating previous longs are taking gains. Coke became the leader of ferrous sector during previous week and early this week. DCE September iron ore total contract value was 65 billion Yuan, the peak in 2019 was 75 billion yuan. However, …
Continue reading “High volatility expected, but iron ore risks reversal”
Chinese futures ended the week on slight gains as trade participants waited for further market direction from China’s Two Sessions. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, gained slightly by 0.77% day-on-day to RMB 716.50 per tonne on Friday. On the contrary, the steel rebar contract on …
Continue reading “Slight gains for DCE as market wait for clearer directions from Two Sessions”
Premier Li Keqiang delivered his speech to the National People’s Congress against a risk-averse backdrop of Beijing’s tightening grip on Hong Kong and increasingly testy relations with Washington. Li reported that China has dropped its numerical growth target — a move perceived as negative for metals like steel — but plans to boost fiscal support …
Escalating concerns that the coronavirus pandemic may curb iron ore supply in Brazil are set to further support prices — already at an eight-month high — and are pushing back forecasts for the timing of a descent into the $70s. Citigroup Inc., which said in early May that a fall to $70 a ton was …
Continue reading “Iron Ore’s Strength Set to Linger Longer on Brazil Supply Woes”
The Chinese government abandoned its decades-long practice of setting an annual target for economic growth amid the storm of uncertainty unleashed by the coronavirus pandemic, and said it would continue to increase stimulus. Speaking at the National People’s Congress in Beijing on Friday morning, Premier Li Keqiang delivered an annual policy address that instead laid …
Continue reading “China Abandons Hard Growth Target, Shifts Stimulus Focus to Jobs”
The question that comes up more and more is when will we get a turnaround in the markets? This, of course, is the question on the lips of everyone from big fund traders all the way to small IG Index punters. At face value, it seems that for many markets the only way is up. …
Iron ore futures recovered from yesterday’s blip to trade above $95 as investors become increasingly concerned over the coronavirus crisis in Brazil. Brazil’s iron ore shipments had their slowest start to a year in the last five years. Brazilian miner Vale downgraded its production guidance early in the year, Morgan Financials Ltd noted that more …
Continue reading “Iron ore blips back on supply fears, stimulus hopes”
Chinese futures spiked up further, over tight supply concerns and expectation of more Chinese stimulus measures. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, jumped by 2.05% day-on-day to RMB 722 per tonne on Thursday. On the contrary, the steel rebar contract on the Shanghai Futures Exchange increased …
Continue reading “DCE on a bull run over anticipation of stimulus packages”
China’s top leaders should reveal on Friday how much they’re planning to spend on stimulus to support the post-virus economy, when they belatedly announce their economic policy blueprint for the rest of 2020. The centerpiece event will be the work report delivered by Premier Li Keqiang, which typically contains the economic growth and spending targets, …
Continue reading “What to Watch as China Unveils Stimulus in Policy Meeting”
