SGX Iron Ore 62% Futures& Options Open Interest (Jul 29th) · Futures 91,720,000 tonnes(Increase 3,532,700 tonnes) · Options 86,299,400 tonnes(Increase 700,000 tonnes) Steel Key Indicators · The Tariff Commission of the State Council announced that the export of ferrochromium and high-purity pig iron will be appropriately increased from August 1st, 2021, and the export tax …
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Daily DCE Review 29/7/21
Iron ore futures reversed into losses on Thursday, as market participants expected more output cuts ahead that limited raw material demand. The futures of Dalian Commodity Exchange (DCE) for September delivery then dropped by 1.59% day-on-day or RMB 18 to RMB 1,114.50/mt during the day trading session on Thursday. The rebar futures, however hiked up …
Iron Ore DCE Sep Daily Technical Review 29/7/21
Verdict – Short-term neutral, slow down on correction. DCE iron ore September tested two months low at 1094.0 and rebounded fast before closing to recover partial loss. In general, the support around 1110- 1113.5 was strong even it was broken during the market, since price and volume went up to push price back quickly. A …
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Daily Virtual Steel Mill Report 29/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · U.S. Federal maintained 0-0.25% unchanged as interest rate, fell in expectation. · FTSE A50 Index rebounded near 3% overnight. Shanghai Equity rebounded 1.5% in early afternoon. Iron Ore Key Indicators: · Platts62 $201.25, +0.80, MTD $214.54. · China Iron and Steel Association(CISA): The …
Daily DCE Review 28/7/21
Iron ore futures recovered from previous day slump and inched up slightly at the close for the day trading session on Wednesday. The futures of Dalian Commodity Exchange (DCE) for September delivery then went up by 0.22% day-on-day or RMB 2.50 to RMB 1,137.50/mt during the day trading session on Wednesday. The rebar futures, however …
Iron Ore DCE Sep Daily Technical Review 28/7/21
Verdict – Short-term neutral. DCE iron ore September finally ended with a rebound almost cover the loss from last trading day. However the rebound with small volume was not strong enough to create a firm trend. Hourly MACD expanded above 0 axis. The lower support at 1100- 1103.5 provide strong rebound several times from early …
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Daily Virtual Steel Mill Report 28/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · National Bureau of Statistics: H1 2021 above designated industry companies total profit 4.22 trillion yuan, up 66.9% y-o-y, up 45.5% compared to the year 2019. · IMF global economic development review indicated the year 2021 global economy growth at 6%, in the year …
Daily DCE Review 27/7/21
Iron ore futures opened high on morning session, only to suffer a sharp drop at the close, following a selloff session on Tuesday. The futures of Dalian Commodity Exchange (DCE) for September delivery then dropped by 2.80% day-on-day or RMB 32 to RMB 1,109.50/mt during the day trading session on Tuesday. The rebar futures also …
Daily DCE Review 26/7/21
Iron ore futures started the week on firmer note, after recovering from last week slump due to steel output restriction. The futures of Dalian Commodity Exchange (DCE) for September delivery then rose slightly by 0.89% day-on-day or RMB 10 to RMB 1,136.50/mt during the day trading session on Monday. The rebar futures also went up …
Iron Ore DCE Sep Daily Technical Review 26/7/21
Verdict – Short-term neutral. DCE iron ore September rebounded slightly and overall stablised as predicted on last Friday. A breakthrough on 1161.5 would lead iron ore into a short-run bullish market. However a rejection on the intra-day high again would mean iron ore need more time to consolidate. Hourly MACD was running in stable mode …
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