Ferrous Market – Ganggu Construction Steel Inventory: production 5.28 million tonnes, up 19,400 tonnes w-o-w. Mills inventory 3.37 million tonnes, down 178,400 tonnes w-o-w. Circulation inventory 7.20 million tonnes, down 729,800 tonnes w-o-w. – Decmil Group signed 22 million dollar contract with Rio Tinto on the west Pilbara Mesa J miner’s structure and transportation service, …
Tag archives: IO62
DCE benefits from high steel prices and margins
Iron ore futures hiked up higher on better steel prices and market optimism on better steel margins and demand. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange booked a gain of 2.64% or RMB 22 day-on-day to RMB 855/mt on Monday. The steel rebar contract on the Shanghai Futures Exchange …
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FIS Weekly Ferrous Report 17/11/2020
Iron ore remains neutral to bullish, with limited room to the upside in the short-run since futures values are converging with DCE deliverable physical values. Macro: The signing of RECP by 15 Asian countries (Reuters) indicated industrial commodities facing more tax exemptions in next few years. It will also help to build a transparent and …
FIS Ferrous Weekly Report 17112020
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Iron Ore DCE January Daily Technical Review Nov 16th
Verdict – Short-term neutral. DCE iron ore Jan contract volatility increased and the high low range expanded compared to last Friday. A rejection on 850.0 would stuck iron ore in 819.5-850.0 in short-run. However a breakthrough on 850.0 would potentially trigger a new round of rebound. Hourly MACD potentially create a gold cross. Technical signals …
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Daily Ferrous Physical Review Nov 16th
Ferrous Market – Steelbank: construction steel inventory 4.49 million tonnes, down 12.91% w-o-w. HRC inventory 1.67 million tonnes, down 14.44% w-o-w. – China October crude steel production 92.2 million tonnes, up 12.7 y-o-y. Jan – Oct crude steel production 873.93 million tonnes, up 5.5% y-o-y. – China Ministry of Industrial and Information Technology researcher indicated …
Last sprint for iron ore purchase before winter season
A total of 1.82 million mt of iron ores was traded for the week ended Nov 13, up almost 60% week-on-week as compared to the 1.15 million mt recorded last week. The higher intake of iron ore was due to better steel prices and margins that encouraged mills to produce more steel for the catch-up …
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DCE slips on declining steel prices
Iron ore futures opened low but managed to catchup at the afternoon session before closing at slight dip for the day. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange were almost flattish and booked a small loss of 0.83% or RMB 7 day-on-day to RMB 832.50/mt on Friday. The …
DCE stabilizes on decent steel demand
Iron ore futures saw a selloff at the afternoon session but managed to stabilize at the close to gain some ground. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange were almost flat with a small rise of 0.18 % or RMB 1.50 day-on-day to RMB 835.50/mt on Thursday. The …
Iron Ore DCE January Daily Technical Review Nov 12th
Verdict – Short-term neutral. DCE iron ore ticked high and long covering to take gains during afternoon session with significantly increasing volume compared to Asian morning session. From hourly chart, MACD created dead cross. Slow stochastic created dead cross below overbought area. CCI created the lowest in November. Short-run technicals are indicating an exhaustion of …
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