FIS Capesize Technical Report On the last report we noted that if the RSI went through the 62—64 resistance level the index had a greater chance of going on a run. This has been the case with the index moving 100% higher. To view the full report please click on the link
Tag archives: IO
DCE rises on higher steel output
Chinese futures rose higher on Tuesday, buoyed by higher steel production in China from strong domestic construction demand. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, which increased by 1.03% day-on-day to RMB 781 per tonne on Tuesday. However, the steel rebar contract on the Shanghai Futures Exchange, …
Oil Through the Looking Glass 16/6/20
*Covid-19 vs Supply Cuts* The tussle between bearish and bullish news continues for crude. Coronavirus cases rose to more than 8 million worldwide yesterday, with infections surging in Latin America, while the United States and China are dealing with fresh outbreaks. On the supply side the UAE energy minister said that he had confidence OPEC+ …
Capesize July 20 Morning Technical Comment – 240 Min
FIS Ferrous Weekly Report 16/06/2020
Iron ore futures fall as China steel demand slows, virus cases rise
Iron ore futures fell sharply on Monday on concerns over China’s recovery. Data released on Monday showed China churned out a record of 92.27 million tonnes of steel. According to SteelHome data, iron ore port inventories fell to 107.75 million tonnes last week, the lowest since October 2016. While the decline in port inventories …
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The Baltic Dry Index – ray of hope or footnote in history?
COVID-19 will haunt a generation. Be it from personal loss of friends or family members, loss of employment or the loss of an investment. With nearly 8 million cases worldwide the pandemic has shown no sign of slowing down. Global cases worldwide (source Bloomberg) Infection cases may continue to rise, creating further havoc for …
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DCE flats on lower steel demand and rising shipments
Chinese futures stayed virtually flat with gains at the morning session being offset by selloff in the afternoon session. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, was flat at RMB 762.50 per tonne on Monday. The steel rebar contract on the Shanghai Futures Exchange, followed the …
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Oil Through the Looking Glass 15/6/20
Continuation of the Crude Slump The week losses have extended into the new week as new virus infections hit China, Japan and the United States. This raises concerns of people in the market on the return of normal demand that had previously raised sentiment at the easing of lockdown. In the US the cutting of …
Iron Ore DCE September Daily Technical Review Jun 15th(Hourly Chart from May 18th to Jun 15th)
Verdict – Short-term neutral to bearish. DCE iron ore corrected after Friday push to five day high. The test low was supported by 756.5. 753.0 area from hourly chart supported price reversal twice over last week. A breakdown on 746.5- 753.0 area will drive iron ore price to test 20 day moving average. The breakdown …