Tag archives: IO

Lower iron ore trade volumes amid Golden week holidays

A total of 1.38 million mt of iron ores was traded for the week ended Oct 2, down almost 27% week-on-week as compared to the 1.89 million mt recorded last week. The decline in trading volumes was due to the shorter trading week as the Chinese participants were absence in the market for the Golden …

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Australia infections and Brazil production see iron ore surge

Iron ore futures surged above $121 on Wednesday on mounting supply concerns.   Australian defence personnel are being deployed to Port Hedland to help contain the coronavirus outbreak after 17 of the 21 crew members of a cargo ship were tested positive, reigniting concerns over supply disruptions.   Furthermore, exports from Brazil declined in the …

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Oil and Ore Intraday Morning Technical

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DCE jumps over shipping disruption in Australia

Iron ore futures jumped over supply concerns as coronavirus outbreak threatened iron ore shipments from Western Australian. As such, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange surged by 5% day-on-day to RMB 809 per tonne on Wednesday. The steel rebar contract on the Shanghai Futures Exchange also posted gain …

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Iron Ore DCE January Daily Technical Review Sep 30th

Verdict – Short-term neutral. DCE iron ore rebound strongly during the day, majorly contributed by previous short covering and taking gains. In particular after 14:30 p.m., indicating money flow out to avoid cross holiday risk. After holiday expected a reverse on this speculation. A breakthrough on 809.0 would indicate market recovering to consolidation. A rejection …

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Daily Ferrous Physical Review Sep 30th

Ferrous Market –    Vale stopped Minas Gerais mining company Viga for 3 months, total impact 999,000 tonnes of pellitising iron ores. It is the second time of closure after Vale acquired this company from last August. However no direct impact on mid-stream concentrates. –    Mysteel(Sep 21- 27th) Australia and Brazil iron ore total delivery at …

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Iron ore rises on potential Vale Viga shutdown

Iron ore futures rose above $116 on Tuesday as investors assessed potential impact after a Brazilian court ordered a shutdown of Vale’s operations at the Viga concentration plant; at the same time authorities in Australia are contending with a rising number of coronavirus cases.   In a statement released by Vale, the Brazilian miner was …

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