Ferrous Market – Tangshan closed 7 blast furnaces(450m³) and set target to quit the low rank on air pollution level among 168 major inspected cities. China political conference started from today and market expect Hebei air pollution level would come down following historical rule. Tangsong indicated pig iron decrease by 11,500 tonnes/day. Current pig iron …
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FIS Weekly Ferrous Report 02/03/2021
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Daily DCE Review 2/3/21
Iron ore futures rallied at the close of afternoon session, due to market optimism over high steel demand during construction season. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then rose by 1.49% day-on-day or RMB 17 to RMB 1,154.50/mt on Tuesday. The steel rebar contract on the Shanghai Futures Exchange …
Daily Capesize Review 1/3/21
Capesize freight rates dipped lower on thin market activities, due to trade participants’ concerns over unfavorable weathers and lengthy ballaster list. The Capesize 5 time charter average then dropped by $255 day-on-day to $11,679 on Monday, due to weak physical market. The Baltic Dry Index (BDI) also fell further by 1.43% or 24 points to …
Daily DCE Review 1/3/21
Iron ore futures opened high, but only to dip at afternoon session, due to poorer economic indicators from China. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then dropped by 0.83% day-on-day or RMB 9.50 to RMB 1,132.50/mt on Monday. The steel rebar contract on the Shanghai Futures Exchange also went …
Iron Ore DCE May Daily Technical Review 1/3/21
Verdict – Short-term neutral. DCE iron ore corrected and price movement were slow after Chinese New Year. The first support on 1089.5 was higher than 1041, which was the lower bound of gap created during the first day after Chinese New Year. However hourly candles created a descending tunnel with lower highs and lows. Hourly …
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Ferrous Daily Physical Review 1/3/21
Ferrous Market – In the year 2020, China crude steel production 1.06 billion tonnes, up 7% y-o-y. Steel production 13.25 billion tonnes, up 10% y-o-y. China export 53.67 million tonnes of steel, down 16.5% y-o-y. Import steel 20.23 million tonnes, up 19.8% y-o-y. – Steel bank construction steel inventory 9.81 million tonnes, up 9.14% w-o-w. …
Ferrous trade weekly review 26/2/21
A total of 740,000 mt of iron ores was traded for the week ended Feb 26, as the market welcomed the return of Chinese trade participants from holidays. During the week, the trading activities began sluggishly and thinned as mills gradually resumed to the full operation capacity to pre-holidays level. Nevertheless, the PBF accounted the …
Daily DCE Review 26/2/21
Iron ore futures closed higher at the afternoon session, despite a sluggish start in the morning session, amid good steel consumption for the week. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then rose by 1.72% day-on-day or RMB 19.50 to RMB 1,151/mt on Friday. The steel rebar contract on the …
Daily DCE Review 25/2/21
Iron ore futures opened high, but only to flatten at the afternoon closing session, amid strong Chinese steel demand. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then rose by 1.39% day-on-day or RMB 15.50 to RMB 1,131/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange also went …