Ferrous Market – Steelbank construction steels inventory 2.8896 million tonnes, up 17.31% w-o-w. HRC inventories 1.8673 million tonnes, up 0.28% w-o-w. – Hebei steel mills indicated the pandemic spread in Hebei recently caused the road transportation cost up 15% -50%. – Bureau of Meterology in Australia indicated the Hurricane previously decreaed to a normal wind …
Tag archives: IO62
Iron Ore DCE May Daily Technical Review 25/1/21
Verdict – Short-term neutral to bearish. DCE iron ore flattened as last Friday however settlement price went down 13.5 yuan, indicating average iron ore trading price went lower. The daily low refreshed last low at Jan 14th. Hourly MACD was flattening. Hourly CCI entered a bearish tunnel. Hourly high moved down from 1083-1073-1061. A rejection …
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Ferrous trade weekly review 22/1/21
A total of 1,480,000 mt of iron ores was traded for the week ended Jan 22, up almost 28% as compared to previous week, amid the pre-Lunar New Year restocking activities. During the week, the market participants were concerned cyclone development in Australia, and the aftermath of fire incident in Vale’s Ponta do Madeira iron …
Daily DCE Review 22/1/21
Iron ore futures opened high, but only to face a selloff at the start of afternoon session and closed lower by day-end. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) dropped slightly by 0.48% day-on-day or RMB 5 to RMB 1,046/mt on Friday. The steel rebar contract on the Shanghai Futures …
Ferrous Daily Physical Review 22/1/21
Ferrous Market – MySteel 45 ports iron ore inventories at 124.38 million tonnes, up 263,300 tonnes w-o-w. Daily evacuation 3.1876 million tonnes, up 222,600 tonnes w-o-w. Australia iron ore 57.55 million tonnes, down 1.14 million tonnes w-o-w. Brazil iron ore 43.599 million tonnes, up 1.66 million tonnes w-o-w. 178 ships at ports, up 6. – …
Iron Ore DCE May Daily Technical Review 22/1/21
Verdict – Short-term neutral to bearish DCE iron ore corrected during the day and iron ore had entered a narrower consolidation range since the first day of January. Major range in 1035.5- 1084.5. Hourly MACD dead cross. Hourly slow stochastic KD created dead cross below overbought area. CCI slumped from monthly high to weak area …
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Daily DCE Review 21/1/21
Iron ore futures opened low and closed higher at the afternoon session, amid market concerns over cyclone development in Australia. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) then rose slightly by 0.90% day-on-day or RMB 9.50 to RMB 1,061/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange …
Ferrous Daily Physical Review 21/1/21
Ferrous Market – MySteel Rebar Inventory: Rebar production 3.445 million tonnes, down 0.25% w-o-w. Mills inventory 2.89 million tonnes, up 4.61% w-o-w. Circulation inventory 4.80 million tonnes, up 12.98% w-o-w. – Ganggu Construction Steel Inventory: production 5.03 million tonnes, down 91,800 tonnes w-o-w. Mills inventory 5.56 million tonnes, up 293,900 tonnes w-o-w. Circulation inventory 6.83 …
Iron Ore DCE May Daily Technical Review 21/1/21
Verdict – Short-term neutral. DCE iron ore rebounded and closed slight higher than yesterday. The intra-day high still had some distance to next resistance at 1084.5. Iron ore consolidated within a narrower range after the beginning of Jan. Hourly MACD created gold cross. Hourly CCI created new high after Jan 7th. Technical signals were indicating …
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Daily DCE Review 20/1/21
Iron ore futures rebounded from losses amid cyclone concerns over possible disruptions to Australian iron ore shipments and productions. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) then rose slightly by 0.24% on-day or RMB 2.50 to RMB 1,059/mt on Wednesday. The steel rebar contract on the Shanghai Futures Exchange however, …