FIS API Blog
Iron ore futures slumped on Wednesday morning in London on fresh concerns over rising US-China tensions after US forced the closure of the Chinese Consulate at Houston. Iron ore futures initially held firm, with Aug hovering around mid-108 despite China’s Ministry of Industry and Information Technology warned on Tuesday that current iron ore prices …
Continue reading “FIS Singapore Iron Ore Derivatives Report 22/07/2020”
Iron ore future rose for the second consecutive day on better market outlook on anticipation of improved steel demand after rainy season in China. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange continued the upward trend with gains of 1.14% or RMB 9.50 day-on-day to RMB 841.50 a tonne on Wednesday. …
Iron ore futures opened low and closed on high on Tuesday, following market optimism on China’s demand despite rising supply from miners. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange rebounded from yesterday losses and gained by 2.75% or RMB 22.50 day-on-day to RMB 841 a tonne on July 21. Joining …
Iron ore futures closed at slight correction after a strong opening, only to sustain losses at the afternoon session due to rising port inventory. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange slipped by 0.31% or RMB 2.50 day-on-day to RMB 817 a tonne on Monday. Similarly, the steel rebar contract …
Verdict – Short-term bearish. Maintain Short-term bearish as last week. However daily low was higher than Friday and iron ore entered a slower correction phase. From hourly chart, iron ore entered a narrowed descending triangle area with lower highs and almost flat lows around 807.0 level. However daily slow stochastic KD is creating dead cross …
Continue reading “Iron Ore DCE September Daily Technical Review Jul 16th”
Ferrous Market Updates – Steelbank inventories 7.34 million tonnes, up 1.41% y-o-y. HRC inventories 1.81 million tonnes, down 1.37% y-o-y. – Tangshan increased production curb level from last week and this week. Most of the curb is related to sintering machine. Thus decreasing usage of iron ores and cokes in Tangshan Area. – China southern …
