FIS API Blog
Dalian Iron ore futures have failed for a third day to break the high RMB 775 high that formed on the 01/06/20, bringing a halt to the previous 4-day rally after repeated warnings from financial institutions that the current supply tightness will ease in the later months of the year. Vale intend to …
Continue reading “Iron Ore Futures Consolidate on Supply Outlook”
Iron Ore and Steel Market Updates – NDMC produced 2.29 million tonnes of iron ore, down 24.7% y-o-y. NDMC sold 2.55 million tonnes of iron ore down 24.3% y-o-y. – Vietnam steel mill HòaPhát sign an agreement to sell 120,000 tonnes to steel billet to CIEC Group in Hangzhou, China, with a contract value around …
Iron ore futures advanced on Wednesday as investors gauged over short-term iron ore supply. On one hand, Australian miners have been going flat out and the country may be shipping in record volumes. According to initial tally compiled by Bloomberg, shipments from Australia were up by 3.2 million tonnes in May year-on-year to 79.7 …
Chinese futures came slightly flat today after a selloff in the morning session, before recovering loss grounds later at afternoon session. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, edged up slightly by 0.40% day-on-day to RMB 755 per tonne on Wednesday. Likewise, the steel rebar contract on …
Continue reading “DCE flattens after Vale’s supply assurance”
Verdict – Short-term consolidation. DCE iron ore closed at 755.0 yuan slight lower than previous 757.0 yuan. The trading volume narrowed with a slight increase on open interest. From hourly chart, slow stochastic created second lower dead cross above overbought area, however flattened. Daily candles created a doji, and iron ore entered a symmetrical triangle …
Having initially reacted negatively to the the Chinese stimulus two weeks ago the futures found buying support at the 55 day average. The bulls maintain control pushing the futures back to (and slightly above) the highs from the 21 – 05 – 20 Control, but not dominance, four days of upward price action is …
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””
