Ferrous Market – China September and October steel export orders increase, which could result in the export volume increase in following months of the year. – Tangshan researched 10 sample steel mills profit at 401 yuan/tonne, up 99 yuan/tonne w-o-w. – MySteel Rebar Inventory: Rebar production 3.64 million tonnes, up 1.18% w-o-w. Mills inventory 2.47 …
Tag archives: IO62
DCE gains slightly over slower steel output
Iron ore futures booked slight gains after the recent bullish run due to better steel prices and margins. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange rose by 0.96 % or RMB 8 day-on-day to RMB 838 /mt on Wednesday. The steel rebar contract on the Shanghai Futures Exchange however, …
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Iron Ore DCE January Daily Technical Review Nov 11th
Verdict – Short-term neutral to bullish, be aware of market reversal. DCE iron ore rebounded gentlely during the day. However most of the push was contributed by some block trades during 14:00 – 14:01 p.m. In addition ferrous sector is also supported by coking coal spike. Hourly MACD and CCI are both flatenning. Short-run technicals …
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Daily Ferrous Physical Review Nov 11th
Ferrous Market – China steel mills are planning to invest in south-east countries, equal to 54 million tonnes of steel capacity. – Ganggu Construction Steel Inventory: production 5.26 million tonnes, down 55,400 tonnes w-o-w. Mills inventory 3.55 million tonnes, down 274,600 tonnes w-o-w. Circulation inventory 7.93 million tonnes, up 731,300 tonnes w-o-w. – Many steel …
DCE continues bullish run on better steel prices
Iron ore futures rallied on better steel margins and rode on global market optimism due to Covid-19 vaccine breakthrough. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange rose by 1.66 % or RMB 13.50 day-on-day to RMB 825.50 /mt on Tuesday. The steel rebar contract on the Shanghai Futures Exchange …
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FIS Weekly Ferrous Report 10/11/20
Iron ore – The arrival of iron ore is coming off during last week by 7% w-o-w at 23.82 million tonnes, from mysteel statistics. However this gap is expected to fill up in this week about similar amount. Port stock tendency is still increase since low evacuation plus congestion ships entered port areas. – The …
DCE rallies on high steel prices
Iron ore futures rose on higher steel prices, back by better demand and new round of sintering cut in Tangshan. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange rose by 3.61% or RMB 28.50 day-on-day to RMB 817.50 /mt on Monday. Following the rally, the steel rebar contract on the …
Iron Ore DCE January Daily Technical Review Nov 9th
Verdict – Short-term neutral. DCE iron ore gave back some gains after the spike on last hour of Friday night and first 10 minutes of the day session. At the same time, volume return to normal level as well. The market entered a neutral to bullish range however a confirm of breakthrough on 827.0-834.0 would …
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Daily Ferrous Physical Review Nov 9th
Ferrous Market – Steelbank: China contruction steel inventory 6.73 million tonnes, down 11.18% w-o-w. HRC 2.38 million tonnes, down 6.8% w-o-w. – MySteel researched Tangshan 10 sample steel mills profit 332 yuan/tonnes, up 67 yuan w-o-w. Billet cost after tax down 7 yuan w-o-w. – China Jan-Oct iron ore import at 975 million tonnes, up …
Chinese construction activities catch up before winter
A total of 1.15 million mt of iron ores was traded for the week ended Nov 6, up 12.75% week-on-week as compared to the 1.02 million mt recorded last week. There were some catch-up operations among the Chinese construction firms right before the winter season, which resulted in more procurement. BRBF toppled PBF as the …
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