Ferrous Market – Steelbank Inventory: construction steel inventories 3.11 million tonnes, up 6.84% w-o-w. HRC 1.77 million tonnes, up 11.45% w-o-w. – Northern Australia miner Frances Creek, acquired from Gold Valley Holdings six years ago, is currently investing 11.3 million dollars to upgrade facilities. First . NT Bulion planned to start the first trains with …
Tag archives: IO62
Iron Ore DCE May Daily Technical Review 11/1/21
Verdict – Short-term neutral. DCE iron ore corrected from the high of 1079.0 created on last Friday, the support area was in 1016-1022 area. From hourly chart, CCI was still testing two week low area. Hourly KD became flat after the dead cross in 8th. MACD became flat in bearish area. The first support is …
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Iron ore market starts well for the new year amid coronavirus concerns
A total of 2,020,000 mt of iron ores was traded for the week ended Jan 8, getting off for a good start of the new year in 2021. The first working week of 2021 also started with positive PMIs indicators in China, which set the pace for a bullish market, though there were some concerns …
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DCE ends the week in rally amid coronavirus concerns
Iron ore futures ended the week on high notes, despite some selloff in the morning session, but only to rally later at the afternoon session. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) then rose by 2.35% on-day or RMB 24.50 to RMB 1,067.50/mt on Friday. The steel rebar contract on …
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Daily Ferrous Physical Review Jan 8th
Ferrous Market – MySteel 45 ports iron ore inventories at 122.67 million tonnes, down 1.49 million tonnes w-o-w. Daily evacuation 3.02 million tonnes, up 221,600 tonnes w-o-w. Australia iron ore 58.598 million tonnes, down 567,000 tonnes w-o-w. Brazil iron ore 40.435 million tonnes, down 349,000 tonnes w-o-w. 159 ships at ports, up 1. – Mysteel …
Iron Ore DCE May Daily Technical Review Jan 8th
Verdict – Short-term neutral, be aware of taking gains of market. DCE iron ore rebounded with higher highs and lows. However still resisted by 1069.5 in particular during the last trading hour. In short-run, be aware of the taking gains when market reaches 1069.5-1079.0 area. From hourly chart, slow stochastic flattened after a dead cross. …
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DCE rallies on restocking demand amid market uncertainty
Iron ore futures rallied on robust restocking demand, regardless of market concerns over rising coronavirus cases and harsh winter conditions that disrupted logistics. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) then rose by 2.96% on-day or RMB 30.50 to RMB 1,061.50/mt on Thursday. The steel rebar contract on the Shanghai …
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Daily Ferrous Physical Review 7/1/21
Ferrous Market – Brazil authorities hope to finalise later this month a settlement with Vale SA for the Brumadinho Dam collapse occurred in early 2019. Vale presented a value of about 21b reais($4b), while Minas Gerais outlined 28b reais in material damages, plus 26b reais in moral damages. – Tangshan 10 sample steel mills pig …
Iron Ore DCE May Daily Technical Review 7/1/21
Verdict – Short-term neutral to bullish, be aware of taking gains of market. DCE iron ore broke 1048.5, which was the major resistance previously. A breakthrough on 1069.5 would potentially mean a new spike towards last year high at 1147.0. Hourly KD rebounded after a gold cross yesterday and approached overbought area. CCI was close …
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DCE inches up amid market uncertainty
Iron ore futures rose slightly amid choppy trading session, due to market concerns over supply tightness and rising coronavirus cases. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) then rose by 0.29% on-day or RMB 3 to RMB 1,033/mt on Wednesday. The steel rebar contract on the Shanghai Futures Exchange, however …