Chinese futures changed little as the market tried to end the week on positive note with huge drawdown of port inventory. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, rose slightly by 0.13% day-on-day to RMB 768 per tonne on Friday. Likewise, the steel rebar contract on …
Tag archives: IO
DCE drops for the second day on easing Brazilian supply
Chinese futures slid for the second consecutive day due to supply easing as Vale reopened its Itabira complex. As such, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, dropped by 1.03% day-on-day to RMB 765 per tonne on Thursday. However, the steel rebar contract on the Shanghai Futures …
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Iron Ore Held in Check
Iron ore futures remain unchanged overnight Weds/Thurs with the July futures holding above USD 101.00 level (as of 06.15 UK time) having traded as low as USD 99.41. The world’s seconds largest commodity by volume followed the Shanghai Composite index in a holding pattern as traders wait in anticipation of the next round of RRR …
Oil Through the Looking Glass 18/6/20
*Fuel Demand to Remain Under Pressure* OPEC predicts that demand for fuel will continue to struggle into the second half of the year due to the effects of the virus. The group has kept its forecast for oil consumption unchanged predicting a 9% fall in demand, however it cut its supply needs by 2.17 mbd. …
Capesize July 20 Morning Technical Comment – 240 Min
Iron Ore Offshore July 20 Morning Technical Comment – 240 Min Chart
Iron Ore DCE September Daily Technical Review Jun 18th(Daily Chart from Mar 10th to Jun 18th)
Verdict – Short-term neutral. DCE iron ore consolidate for few days and correct during today. The highs are becoming lower at 798.0,788.0,786.5. The lows are becoming higher 733.5,756.5,764.0. In short-run, iron ore traded in a triangle and narrowing in the consolidating range. From hourly chart, MACD widened below 0 axis after dead cross. Slow stochastic …
FIS Daily Physical Review Jun 18th
Iron Ore and Steel Market Updates Vale informs that, on this date, the Sub-Secretariat for Labour Inspection, in Minas Gerais, issued a Term of Suspension of Interdiction of the Itabira mining complex. The Itabira Complex activities were halted since June 5th, 2020 and the production impact was lower than 1 Mt. The operation will be …
Iron ore rebound capped on COVID rebound fears
Iron ore futures rebounded on Wednesday but was capped around $101 as investors kept a worried eye over the latest Coronavirus situation in China. Beijing stepped up its containment efforts following a cluster of new cases in Beijing and triggered a selloff yesterday afternoon as investors were worried of a second wave of cases. …
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FIS Castaway – Eps.12 – Unprecedented Coverage in Unprecedented Times
This week the group discuss supply and demand in crude, freight, iron ore, and copper markets. We explore the reasons behind the freight markets jump, oil’s crawl upwards, and iron ore’s price stall, among other market news and trends. https://freightinvestorservices.com/blog/fis-castaway-eps-12-unprecedented-coverage-in-unprecedented-times/