Iron ore futures reversed into losses due to the easing of the supply tightness, while the market entered lull steel demand season. The futures of Dalian Commodity Exchange (DCE) for September delivery then dipped down by 1.52% on-day or RMB 18.50 to RMB 1,197.50/mt on Wednesday. The steel rebar contract on the Shanghai Futures Exchange, …
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Iron Ore DCE Sep Daily Technical Review 16/6/21
Verdict – Short-term bearish. DCE iron ore September contract started correction after confirmed the periodic high at 1248.0 level. Hourly slow stochastic KD created two dead cross in Jun 15th and gradually went lower, indicating a decreasing trend. Hourly CCI leaked from the two month high to a weekly low level. Hourly MACD widened below …
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Daily Virtual Steel Mill Report 16/6/21
Market Verdict on Iron Ore： · Iron ore short-run bearish. Macro · China May electricity consumption maintained a high growth rate by 12.5% y-o-y, up 18.7% m-o-m. Jan-May total electricity consumption accumulated at 3.23 trillion KWH, up 17.7% y-o-y. However China major southern industry city Guangzhou electricity consumption reached 11.2 billion KWH, a historical high …
Daily DCE Review 15/6/21
Iron ore futures closed the afternoon session with slight gains against previous losses in the morning session, due to market concerns over slack steel consumption season. The futures of Dalian Commodity Exchange (DCE) for September delivery then inched up slightly by 0.91% on-day or RMB 11 to RMB 1,225/mt on Tuesday. The steel rebar contract …
FIS Weekly Virtual Steel Margin Report 15/6/2021
Market Verdict： – Iron ore neutral. Macro Market Change and Money Movement: – China commodity market experienced an interest shift from agricultural sector to industrial sector from last Thursday to this Tuesday, contributed by the strong performance of coking coal and iron ore. – The G7 conference yet to mention any detail on the solution …
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Ferrous trade weekly review 11/6/21
A total of 1.03 million mt of iron ores was traded for the week ended Jun 11, amid a volatile market with declining steel margins. However, benchmark iron ore prices soon found some supports from the supply tightness of port inventory and extended output curbs in Tangshan. During the week, the trades volume of PBF …
Daily DCE Review 11/6/21
Iron ore futures closed the week on high note, due to supply tightness and another round output curbs in Tangshan. The futures of Dalian Commodity Exchange (DCE) for September delivery then jumped to a three-week high and went up by 5.90% on-day or RMB 69.50 to RMB 1,247/mt on Friday. The steel rebar contract on …
Daily Virtual Steel Mill Report 11/6/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · U.S. May CPI up 5% y-o-y, created the biggest single month increase during the past 13 years. Because the economy boost stimulate the travel services and second-hand automobile price. The strong data partially due to the soft economic data base in last year …
Daily DCE Review 10/6/21
Iron ore futures booked a slight gain after a volatile market session, amid market sentiment of lower steel demand during rainy season. The futures of Dalian Commodity Exchange (DCE) for September delivery then inched up by 0.68% on-day or up RMB 8 to RMB 1,178/mt on Thursday. The steel rebar contract on the Shanghai Futures …
Iron Ore DCE Sep Daily Technical Review 10/6/21
Verdict – Short-term neutral. DCE iron ore September contract resisted by 1191.5-1197.0 area again, which was also predicted from yesterday. Thus price movement was rejected by major resistance and went back to consolidation in narrower range. Hourly MACD narrowed. Hourly slow stochastic KD deepened the correction after created a dead cross. Hourly CCI tested low …
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