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 …
Tag archives: IO62
DCE rallies on optimism and better buying interests
Iron ore futures continued the bullish run amid better buying activities and market optimism over China’s economic plan to chart future growth. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange surged by 2.41% day-on-day to RMB 785 on Wedensday. The steel rebar contract on the Shanghai Futures Exchange also rallied …
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Iron Ore DCE January Daily Technical Review Oct 28th
Verdict – Short-term neutral. DCE iron ore closed with a second day white candle, indicated iron ore in short-run ended correction. A breakthrough on 805.5 would bring iron ore into a mid-run consolidation. A rejection on 805.5 would still put iron ore into a neutral to bearish market. From hourly chart, slow stochastic KD created …
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Daily Ferrous Physical Review Oct 28th
Ferrous Market – MySteel Australia and Brazil iron ore total delivery(Oct 19 – 25th) at 24.58 million tonnes, down 339,000 tonnes. Australia iron ore delivery 17.21 million tonnes, down 3.05 million tonnes w-o-w. Australia delivery to China 13.81 million tonnes, down 2.54 million tonnes w-o-w. Brazil iron ore delivery 7.36 million tonnes, down 337,000 tonnes …
DCE rebounds from one-month low despite mixed outlook
Iron ore futures rebounded from previous one-month low amid high port inventory that affected iron ore demand. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange was flattish and booked a small gain of 0.20% day-on-day to RMB 768 on Tuesday. Similarly, the steel rebar contract on the Shanghai Futures Exchange …
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FIS Weekly Ferrous Report: Iron ore continues bearish run
Macro and Money Movement. Financial markets remained conservative prior to the US election which both Europe and the US registered a second round of the pandemic. Many countries’ Covid-19 infections have created single day high. From China Exchange data, equity and industrial commodity sector markets showed a correction. The agricultural commodity sector was supported. China …
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FIS Ferrous Weekly Report 27/10/20
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004 US (FL): +1 813 490 6630
DCE falls on supply glut
Iron ore futures continued to fall throughout the trading session due to high port inventory and slowing demand. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange then went down to an almost one-month low at RMB 760.50 per mt on Monday, down 3.31% on daily basis. The steel rebar contract …
Iron Ore DCE January Daily Technical Review Oct 26th
Verdict – Short-term neutral to bearish. DCE iron ore corrected during the day, the low of the day at 756.5 did not breakdown 751.5. A breakdown on 751.5 would indicate iron ore created the second wave of correction. The first resistance at 776.0-780.0 was a previous support. However from hourly chart, slow stochastic KD is …
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Daily Ferrous Physical Review Oct 26th
Ferrous Market – Steelbank Inventory: construction steel inventories 6.31 million tonnes, down 6.09% w-o-w. HRC 2.16 million tonnes, down 9.13%. – Japan Iron & Steel Federation published data suggesting crude steel production 37.10 million tonnes in first half of Financial Year(Apr- Sep), down 26.8% y-o-y, also created the lowest since the year 1968. – Tangshan …