FIS API Blog
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”
Iron ore futures in Singapore were steady Thursday amid heightened concern over supply of the steelmaking raw material and the flagging of new import rules by China. Prices could test $120/ton as global supply is failing to keep pace with resilient consumption, according to Morgans Financial Ltd. Brazil iron ore shipments had their slowest start …
Continue reading “Iron Ore Steady as Supply Concern, Import Rules Mulled”
China streamlined its inspection rules for iron ore imports amid increasing debate about whether the $43 billion trade between the two nations will be caught up in their escalating spat. While the Global Times — a tabloid run by the flagship newspaper of the Communist Party — said the simplification of rules is aimed at …
Continue reading “China Simplifies Iron Ore Import Rules Amid Australia Virus Spat”
Iron ore futures retreated on Wednesday ahead of China’s Two Sessions meeting which is scheduled to convene tomorrow. Some profit-taking activities could be attributed to the decline as investors await the annual meeting for news of fresh impetus. Iron ore has enjoyed a stellar run of late, gaining over $13 since the start of …
Continue reading “Iron ore futures retreat as traders take profits ahead of Two Sessions”
Chinese futures hiked to slight gain on Wednesday, as the iron ore rally slowed after six consecutive days of positive run. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, went up slightly by 0.93% day-on-day to RMB 704.50 per tonne on Wednesday. On the contrary, the steel rebar …
May 19 — China was India’s largest purchase of iron ore in the fiscal year ended March 31, and the buyer reportedly has plans to import even more ore from the sub-continental Asian nation. China bought 30.8 million tons of iron ore from India during the period, two and a half times more than the …
Continue reading “China Is Now India’s Biggest Iron Ore Buyer, And Wants to Import More”
Chinese futures jumped for the fifth consecutive trading day on anticipation of further infrastructure stimulus introduced during the National’s People Congress. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, hiked further by 3.64% day-on-day to RMB 711 per tonne on Tuesday. Similarly, the steel rebar contract on …
Continue reading “DCE jumps for the fifth day on stimulus expectation”
Ferrous Sector Money Flow: DCE iron ore aggregated open interest is up 38.97% from April 29th and reached the highest level in Q2, coking coal decreased by 18.55% during the same period. Steel, coke and flat glass used in house construction remained stable on open interest. Investors should be aware of money flow out of …
Continue reading “China construction in the bubble, iron ore demand risk remains”
Iron ore futures extended gains for a third day to reach the highest since January as investors weigh strong domestic demand in China and supply worries from Brazil. The recovery in the production from steel mills in China is boosting sentiment, while iron ore port stockpiles declined to the lowest in more than three years …
Continue reading “Iron Climbs as Traders Eye Steel Demand, Supply Fears”
