FIS API Blog
Verdict – Short-term neutral. DCE iron ore rebounded significantly during the morning, however last three hours consolidated. Both open interest and volume decreased compared to last Friday. Hourly KD flattened on the overbought area. Hourly MACD potentially create dead cross with current price. Technical signals indicated iron ore exhausted and be aware of reversal. The …
Continue reading “Iron Ore DCE May Daily Technical Review 8/2/21”
Ferrous Market – Russia Miner Metalloinvest Q4 production 10.07 million tonnes, down 1% from Q3. Year 2020 total production 40.43 million tonnes, up 0.5% y-o-y. Q4 iron ore delivery 2.14 million tonnes, down 8.1% from Q3. – Steelbank construction steels inventory 6.19 million tonnes, up 28.68% w-o-w. HRC inventories 2.257 million tonnes, up 15.01% w-o-w. …
A total of 1,340,000 mt of iron ores was traded for the week ended Feb 5, down 22% as compared to previous week. During the week, most end-users were heard to complete their restocking activities, though the demand for post-Lunar New Year holiday remained high, as market participants expected the Beijing policymakers to introduce some …
Iron ore futures continued to rally on market anticipation of better post-Lunar New Year demand that bounced futures contract to the RMB 1,000/mt mark. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then hiked up by 4.20% day-on-day or RMB 40.50 to RMB 1,004.50/mt on Friday. The steel rebar contract on …
Verdict – Short-term neutral. DCE iron ore extended the rebound, however resisted by 1017.0 level twice during the day. A breakthrough on 1017.0 would keep push iron ore price. From hourly chart, MACD was flattening. Hourly KD created a dead cross on overbought area. Hourly CCI corrected from this morning and created bearish divergence with …
Continue reading “Iron Ore DCE May Daily Technical Review 5/2/21”
Ferrous Market – MySteel 45 ports iron ore inventories at 125.19 million tonnes, up 186,900 tonnes w-o-w. Daily evacuation 3.28 million tonnes, up 239,400 tonnes w-o-w. Australia iron ore 58.49 million tonnes, up 237,000 tonnes w-o-w. Brazil iron ore 43.59 million tonnes, down 119,800 tonnes w-o-w. 169 ships at ports, down 32. – India financial …
Iron ore futures jumped on better post-Lunar New Year demand, which resulted a rally in the afternoon session. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), jumped by 5.26% day-on-day or RMB 49.50 to RMB 991/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange also rose by 1.94% …
Verdict – Short-term neutral. DCE iron ore rebounded significantly in the afternoon session, along with major commodities and Shanghai equity all recovered the sentiments and rebounded before and after lunch. However open interest and volume growth were not significant, indicating a testing period for market to return to neutral. A breakthrough on 1008.0 area would …
Continue reading “Iron Ore DCE May Daily Technical Review 4/2/21”
Ferrous Market – Tangshan 10 sample steel mills pig iron before tax 3117 yuan/tonne, billet cost 3956 yuan/tonne, down 1 yuan/tonne w-o-w. Gross profit -106 yuan/tonne, down 9 yuan/tonne. – Tangshan billet lock price at 3850 yuan from Feb 2 – 17th(16 days), a 7 year high price during Chinese New Year. 3300 yuan(22 days) …
Iron ore futures had a choppy trading session, following a late rally at the closing afternoon session to recover the losses at the morning session. Despite the late charge, the most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), dipped slightly by 0.89% day-on-day or RMB 8.50 to RMB 948/mt on Wednesday. The …