FIS API Blog
In the global iron ore market right now it’s a tale of two very different exporters. While mining majors in Australia are going flat out and the country may be shipping record volumes, rival Brazil has seen stunted flows with the coronavirus pandemic restraining operations. The contrasting fortunes of the pair — which between them account more than …
Continue reading “The Iron Ore Market Is Polarized as Australia Booms, Brazil Lags”
Iron Ore and Steel Market Updates – Turkey Iskenderun mill Koc Metalurji will extend suspension to July. KM produced 1.2 million iron ore mtpa, 550,000 tonnes of rebar annually. – Ukraine DCH group miner subsidiary Sukhaya Balka Jan – Apr production down 3.7% to 875,000 tonnes y-o-y. – CISA and Vale tele-conference suggest Vale currently …
Iron ore futures rallied above $98 on Tuesday on better Chinese outlook and ongoing supply concerns from Brazil. Iron ore port inventories have fallen to a four-year low as China moved past the coronavirus pandemic, prompting Chinese steel mills to ramp up output, boosting demand for iron ore. The latest Purchasing Manager’s Index for …
Continue reading “Iron ore “could continue to test new highs””
Chinese futures struggled to stay on positive after a selloff near closing that threatened to give up all the gains made in the morning session. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, went up slightly by 0.07% day-on-day to RMB 757 per tonne on Tuesday. Similar …
Brazil’s Vale SA expects iron ore shipments to China to rise in 2020, versus 2019, due to falling demand in other countries hurt by the coronavirus pandemic, according to a phone call between the miner and the China Iron and Steel Association. Production at Vale has not been impacted by the pandemic and it is …
Continue reading “Vale expected to ship more iron ore to China in 2020”
Ferrous Sector Money-flow: DCE iron ore aggregated open interest reached a high at 1.18 million lots on February 21 as well as creating periodic high, following a correction of 19.26%. The open interest high last week was 1.15 million lots. Long positions need to be aware of the similar correction happen for the second time …
Continue reading “Iron ore consolidation points to potential reversal”
The decision to keep Chinese factories shut after the Lunar New Year sent shudders through the giant mines of Brazil and Chile that feed them. Now, with China getting back to work and Latin America the new virus hotspot, concern is shifting from demand to supply. Iron-ore shipper Vale SA had a scare last …
Continue reading “New Virus Hotspot Latin America Houses World’s Biggest Mines”
Iron ore futures soared on Monday after latest data indicated that China is recovering robustly from the coronavirus pandemic. The Caixin/Markit Manufacturing Purchasing Manager for May came in at 50.7, better than both market estimates and the reading of previous month of 49.6 and 49.4 respectively, indicating that China is expanding faster than expected. …
Continue reading “Iron ore soars on China recovery, supply fears”
Chinese futures started the week on bullish note, amid market supply concerns and better economic data from China. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, hiked up by 3.22% day-on-day to RMB 752.50 per tonne on Monday. Following the rally, the steel rebar contract on the Shanghai …
