Iron ore futures fell on the close, despite opening high at the afternoon session before slumping toward the end, due to slower steel demand. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange went down by 0.63% day-on-day to RMB 786.50/mt on Wednesday. The steel rebar contract on the Shanghai Futures …
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Iron Ore DCE January Daily Technical Review Nov 4th
Verdict – Short-term neutral to bearish. DCE iron ore tested 805.5 five times from hourly chart since Oct 16th. However the supports are becoming higher. The current range area is 783.5 – 805.5, a rejection on both bounds would maintain iron ore in consolidation. Open interest evaporated significantly by 40,000 lots, the biggest single down …
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Daily Ferrous Physical Review Nov 4th
Ferrous Market – Ganggu Construction Steel Inventory: production 5.32 million tonnes, up 17,800 tonnes w-o-w. Mills inventory 3.82 million tonnes, down 301,500 tonnes w-o-w. Circulation inventory 8.66 million tonnes, down 704,400 tonnes w-o-w. – Eurofer estimated steel apparent consumption down 14.6% in the year 2o2o, previous expected down 16.6%. Expected apparent consumption up 13% in …
European Close 3/11/20
Strong PMI figures in China have not filtered through to the DCE iron ore with price remaining below the RMB 806 level. A positive night session has seen the futures move RMB 8 higher, USD 1.18 for the Nov futures (+1.1%). Potentially this is nothing more than day traders positioning themselves for a potential change …
London Iron Ore Market Report
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DCE corrects after recent rally
Iron ore futures plunged on the market opening and ended the five consecutive trading days of gains, due to slower steel demand. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange went down by 1.25% day-on-day to RMB 787/mt on Tuesday. The steel rebar contract on the Shanghai Futures Exchange were …
Oil and Ore Intraday Morning Technical 02/11/20
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London Iron Ore Market Report 02/11/20
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DCE rises on China’s positive economic data
Iron ore futures rose on positive economic data from China due to higher steel consumptions and demand. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange rose by 1.91% day-on-day to RMB 801/mt on Monday. The steel rebar contract on the Shanghai Futures Exchange also went up slightly by …
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Iron Ore Offshore Nov 20 Morning Technical Comment – 240 Min Chart (rolling contract)
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