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Verdict – Short-term neutral. DCE iron ore September contract flattened during the day session after a big spike on Friday night session. Hourly slow stochastic KD was flattening near overbought area. Hourly CCI corrected from 6 month high to above 100 area. Candles were indicating volatility are decreasing. Technical signals were indicating an exhaustion on …
Continue reading “Iron Ore DCE Sep Daily Technical Review 26/4/21”
Market Verdict on Iron Ore： · Iron ore neutral. Iron Ore Key Indicators: · Platts 62%: $185.10 (+1.50) MTD $176.22. Iron ore port trades and seaborne trades both increased significantly before China’ Labor day started from this Saturday. However major contributor was the weakened U.S. dollar supported all dollar-linked asset, iron ore was the most …
A total of 1.63 million mt of iron ores was traded for the week ended Apr 23, up 33% on-week, as iron ore prices moved to decade-high levels on good steel margins. During the week, there was plan for production curb in another Chinese steelmaking hub at Handan, with the elimination of obsolete output facilities. …
Iron ore futures closed the week on high note, with much rally throughout the week due to market optimism over good steel demand. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then rose by 1.19% day-on-day or up RMB 13 to RMB 1,104.50/mt on Friday. The steel rebar contract …
Iron ore futures moved flattish since opening and closed lower in the afternoon session as market cooled down after recent rally. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then dipped slightly by 0.46% day-on-day or up RMB 5 to RMB 1,091.50/mt on Thursday. The steel rebar contract on …
Iron ore futures closed on higher note after a late rally at the afternoon session to recoup losses from the earlier session. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then rose by 1.38% day-on-day or up RMB 15 to RMB 1,100.50/mt on Wednesday. The steel rebar contract on …
Iron ore futures continued to rally since opening session and closed higher at the afternoon trading session amid robust steel demand. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then rose by 3.58% day-on-day or up RMB 38 to RMB 1,100/mt on Tuesday. The steel rebar contract on the …
Iron ore futures rallied high at the morning session, only to ease in the afternoon session and eked out small gains at the close. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then inched up by 0.81% day-on-day or up RMB 8.50 to RMB 1,060/mt on Monday. The steel …
A total of 1.23 million mt of iron ores was traded for the week ended Apr 16, amid the ongoing output restriction and inspection safety checks in Tangshan. Throughout the week, there was some market talks of easing the output curb in Tangshan that led to iron ore futures rally, though it did not receive …
Iron ore futures closed the week on positive note, after much rally on the week due to market talks over easing of output restrictions. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then inched up by 0.92% day-on-day or up RMB 9.50 to RMB 1,046/mt on Friday. The steel …