Iron ore futures continued to rally on tight supply and better steel demand, amid production restriction. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then hiked up by 1.95% day-on-day or RMB 22.50 to RMB 1,174.50/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange also rose slightly by …
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Iron Ore DCE May Daily Technical Review 4/3/21
Verdict – Short-term neutral to bullish. DCE iron ore refreshed historical new highs during the current two trading days. Open interest indicated new long positions were built to drive market up. Hourly MACD expanded. Hourly CCI was approaching new high in March. Be aware of the resistance on historical high area in 1180.0- 1185.0 area, …
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Ferrous Daily Physical Review 4/3/21
Ferrous Market – MySteel Rebar Inventory: Rebar production 3.38 million tonnes, up 5.9% w-o-w.Mills inventory 5.22 million tonnes, up 1.36% w-o-w. Circulation inventory 13.04 million tonnes, up 6.73% w-o-w. – Tangshan stopped road transportation to port areas from March 3rd – 6th since a new round of air pollution expected to hit Tangshan Area. – …
European Close 03/03/21
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London Iron Ore Market Report 03/03/21
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FIS Castaway Podcast – Episode 44
FIS Castaway Podcast – Episode 44 Don’t get caught napping on China’s 5 year plans, OPEC meeting and commodity market movements. Listen this this week’s podcast where we update you on iron ore, steel, freight and oil markets Listen Below: Website https://freightinvestorservices.com/blog/fis-castaway-eps-44-unprecedented-coverage-in-unprecedented-times/ Spotify https://open.spotify.com/episode/39jPLg2bncGZoilLeOi32A?si=sD5N7uoqRaS2EnhGeiCSWA And Itunes https://podcasts.apple.com/gb/podcast/episode-44/id1507094242?i=1000511419554 Disclaimer: This …
Oil and Ore Intraday Morning Technical 03/03/21
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Daily DCE Review 3/3/21
Iron ore futures inched up further today, following the rally at the start of the week on market optimism over steel demand. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then hiked up by 1.81% day-on-day or RMB 20.50 to RMB 1,153.50/mt on Wednesday. The steel rebar contract on the Shanghai …
Iron Ore DCE May Daily Technical Review 3/3/21
Verdict – Short-term neutral. DCE iron ore movement were narrowing within the 90 yuan range from 1089.5- 1080.0. Open interest and volume both rebounded slightly. From hourly chart iron ore support moved higher from 1089.5 – 1117.5 – 1130.0. The major resistance on 1078.0- 1080.0. Iron ore from hourly chart created an ascending triangle. Thus, …
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Ferrous Daily Physical Review 3/3/21
Ferrous Market – Tangshan closed 7 blast furnaces(450m³) and set target to quit the low rank on air pollution level among 168 major inspected cities. China political conference started from today and market expect Hebei air pollution level would come down following historical rule. Tangsong indicated pig iron decrease by 11,500 tonnes/day. Current pig iron …