Ferrous Market Updates – Ganggu Construction Steel Inventory: production 5.77 million tonnes, up 15,700 tonnes w-o-w. Mills inventory 5.05 million tonnes, down 354,300 tonnes w-o-w. Circulation inventory 11.13 million tonnes, up 207,000 tonnes w-o-w. – MySteel 45 port previous week iron ore arrived 23.45 million tonnes, down 656,000 tonnes w-o-w. Northern six ports arrivals at …
Tag archives: IO
FIS Weekly Ferrous Report 14072020
London Iron Ore Market Report
Steel margins—King of the Hill
Iron ore futures have been – and remain – an enigma in the commodity markets since the start of the COVID-19 pandemic. The widow-maker is the title of one article on Bloomberg and this is hard to argue; the rhetoric has been about the correction that is coming, not the bull market we have been …
Iron ore futures firmer as Australian volumes surge
Iron ore futures advanced on Tuesday on renewed optimism over a swift economic recovery in China and hopes for further demand after the rainy season. The world’s biggest steel producer brought in 101.68 million tonnes of iron ore last month, surging from 87.03 million tonnes in May, data from the General Administration of Customs …
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FIS Weekly Ferrous: iron ore neutral but risk remains
Ferrous Sector Money-flow: The previous weekly report gave seven weeks of short-run consolidation from the end of May when seeing the open interest peak for DCE market. However market was strong by the first half of July. Open interest indicated most of the push was due to exit of shorts and re-entry as new …
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DCE rises again on supply concerns
Iron ore futures rose for the second consecutive day on Tuesday, in view of supply tightness in the market. At the closing of the afternoon session, the most-traded iron ore for September delivery on China’s Dalian Commodity Exchange went up by 2.44 % or RMB 20 day-on-day to RMB 838.50 a tonne. Likewise, the steel …
London Iron Ore Market Report
FOMO drives China iron ore sentiment
Iron ore futures rallied sharply on the first trading day of the week on market optimism over steel demand as China’s recovery gathered momentum. An upturn in industrial output suggests that the economy expanded in last quarter after cratering in the opening three months due to the coronavirus impact, according to Bloomberg Economics. The robust …
DCE continues to rally from last week gains
Chinese futures ended the afternoon session on gains and continued the rally seen last week in view of market optimism and possible supply tightness from Brazilian suppliers. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, rose by RMB 38 or 4.80% day-on-day to RMB 829 per tonne on …
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