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Tag archives: IO
London Iron Ore Market Report
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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 …
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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Oil and Ore Intraday Morning Technical
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DCE rises on Vale’s supply concern
Iron ore futures went up higher with Vale’s suspension of concentration plant in Brazil, stroking supply concerns in the market. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange then rose by 1.43% day-on-day to RMB 780.50 per tonne on Tuesday. The steel rebar contract on the Shanghai Futures Exchange …