FIS API Blog
Verdict – Short-term neutral. DCE iron ore spiked and corrected back in the afternoon session. Today is the last trading day of Jan contract, which will enter physical delivery window next week. Rebar may contract becomes higher than physical price. Slow stochastic KD created dead cross near overbought area. Hourly MACD was flattening in bearish …
Continue reading “Iron Ore DCE May Daily Technical Review 15/1/21”
Iron ore futures rallied on high restocking demand and closed the day trading session on bullish note. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) then, rose by 1.64% on-day or RMB 17 to RMB 1,055/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange was flattish throughout the …
Ferrous Market – MySteel Rebar Inventory: Rebar production 3.45 million tonnes, down 1.18% w-o-w. Mills inventory 2.76 million tonnes, up 6.27% w-o-w. Circulation inventory 4.25 milliontonnes, up 7.51% w-o-w. – Fe Limited planed to ship JWD iron ore from the Q2 2021. The miner expected to start operation in Q1 2021. – Brazil high silicon …
Verdict – Short-term neutral. DCE iron ore rebounded and resisted by major resistance at 1060. Be aware of cross day short-run trades, which happen few times from late December. A breakthrough on 1079.0 would bring iron ore back to bullish territory. Hourly MACD created gold cross and widened. Slow stochastic KD also created gold …
Continue reading “Iron Ore DCE May Daily Technical Review 14/1/21”
Iron ore futures had a choppy session today, reaching a peak at the close of the morning session, but only to decline later in the afternoon session. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) however, managed to stay positive and rose slightly by 0.10% on-day or RMB 1 to RMB …
Continue reading “DCE moves flattish amid slow construction steel demand”
Ferrous Market – Ganggu Construction Steel Inventory: production 5.12 million tonnes, down 142,700 tonnes w-o-w. Mills inventory 5.27 million tonnes, up 335,300 tonnes w-o-w. Circulation inventory 6.21 million tonnes, up 272,500 tonnes w-o-w. – Samarco shipped 75,000 tonnes of pellets from Brazil to Europe, first laycan after restart the operation. Samarco recovered 26% utilisation rate, …
Verdict – Short-term neutral to bearish. DCE iron ore corrected, however majorly consolidate between 1022.0- 1060.0 area. The trading volume down significantly. From hourly chart, MACD was flattened below 0 axis. Hourly slow stochastic KD created dead cross below overbought area. CCI created a double tops from hourly chart, indicating a correction potential. …
Continue reading “Iron Ore DCE May Daily Technical Review 13/1/21”
Iron ore futures recovered some loss ground at day trading session, due to a rally at the start of the afternoon session to close higher. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) then rose slightly by 0.14% on-day or RMB 1.50 to RMB 1,049/mt on Tuesday. The steel rebar contract …
Continue reading “DCE rebounds despite coronavirus concerns”
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Iron ore futures opened high before sliding toward the afternoon session, despite a late rally to recover some loss grounds at the close. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) then dropped by 1.69% on-day or RMB 18 to RMB 1,046/mt on Monday. The steel rebar contract on the Shanghai …
Continue reading “DCE slides on slower restocking activities”
