FIS API Blog
Iron ore futures rose on positive economic data from China due to higher steel consumptions and demand. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange rose by 1.91% day-on-day to RMB 801/mt on Monday. The steel rebar contract on the Shanghai Futures Exchange also went up slightly by …
Continue reading “DCE rises on China’s positive economic data”
Verdict – Short-term neutral. DCE iron ore created doji and rejected by major resistance arround 805.5. Hourly candles are indicating iron ore created an ascending triangle, a short-run bullish pattern. However iron ore needs to confirm breakthrough level 805.5. Otherwise potentially narrowing in smaller range. Hourly MACD is also weakening. Hourly slow stochastic KD is …
Continue reading “Iron Ore DCE January Daily Technical Review Nov 2nd”
Ferrous Market – Steelbank Inventory: construction steel inventories 5.80 million tonnes, down 8.15% w-o-w. HRC 2.09 million tonnes, down 3.33% w-o-w. – China ferrous physical market rebounded over weekends, coke up 50 yuan as the six round of increase. Eastern steel mills rebar up 50 yuan in Monday morning. Eastern China heavy scrap up 50 …
A total of 1.02 million mt of iron ores was traded for the week ended Oct 30, down almost 27% week-on-week as compared to the 1.39 million mt recorded last week. The declining volumes was in line with market expectation of the upcoming winter production cut with strict environmental regulations being implemented. Pilbara Blend fines …
Iron ore futures rose on drawdown of steel stocks among Chinese traders, lifting market sentiments on better steel demand ahead. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange rose by 2.12% day-on-day to RMB 794.50/mt on Friday. Following the rally, the steel rebar contract on the Shanghai Futures Exchange also …
Verdict – Short-term neutral. DCE iron ore rebounded during the day, however the daily high failed to break the major resistance at 805.5. If a rejection further at 805.5 would bring iron ore back to consolidation. A breakthrough would lift iron ore to a short-run bullish trend. From hourly chart, slow stochastic KD created gold …
Continue reading “Iron Ore DCE January Daily Technical Review Oct 30th”
Ferrous Market – MySteel 45 ports iron ore inventories at 127.63 million tonnes, up 3.48 million tonnes w-o-w. Daily evacuation 3.13 million tonnes, up 47,700 tonnes w-o-w. Australia iron ore 60.30 million tonnes, up 1.72 million tonnes w-o-w. Brazil iron ore 39.39 million tonnes, up 2.39 million tonnes w-o-w. 149 ships at ports, down 2. …
Iron ore futures maintained its upward climb after recent rally, driven by better steel margins from anticipated stricter environmental curbs. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange booked a small gain of 0.71% day-on-day to RMB 779.50/mt on Thursday. Similarly, the steel rebar contract on the Shanghai Futures Exchange …
Verdict – Short-term neutral. DCE iron ore corrected slightly and however maintain in a consolidation area as yesterday expected. From hourly chart, slow stochastic and CCI both corrected from the high, indicating the last push was exhausted. In short run, a breakthrough on 788.5 area would bring back a new round of rebound. In mid-run, …
Continue reading “Iron Ore DCE January Daily Technical Review Oct 29th”
Ferrous Market – Ganggu construction steel mills production 5.2976 million tonnes, down 22,000 tonnes w-o-w(last down 98,800 tonnes). Mills inventory 4.13 million tonnes, down 211,500 tonnes w-o-w(last down 215,800 tonnes). Circulation 9.36 million tonnes, down 703,300 tonnes w-o-w(last week down 552,800 tonnes). – MySteel Rebar Inventory: Rebar production 3.63 million tonnes, up 1.29% w-o-w. Mills …
