Money Movement and Macro Market The ferrous sector has started to correct after moves to control financial leverage of housing companies. This triggered some debt issues at Evergrande, one of the biggest housing companies, but the government also clarified and extend the deleveraging process to the 2023 (Bloomberg). Short-run stress finally reached an end on …
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FIS Weekly Ferrous Report 29092020
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FIS Daily Ferrous Report
Iron ore futures ticked up above $114 on Monday amid growing profits for industrial companies in China, though subdued trading and thin volumes are expected this week ahead of China’s “golden week” holidays. According to data from the National Bureau of Statistics, profits at Chinese industrial enterprises rose for a fourth month, as the continued …
DCE inches up on cooling market activities
Iron ore futures posted slight gain on Monday, despite the cooldown of restocking activities ahead of the Golden week holidays. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange then rose slightly by 0.92% day-on-day to RMB 770 per tonne on Monday. The steel rebar contract on the Shanghai Futures Exchange …
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Iron Ore DCE January Daily Technical Review Sep 28th
Verdict – Short-term neutral. DCE iron ore technically entered a consolidation range. Iron ore created long upper and lower shadow for previous five trading days, indicating long and short are in a conflicting sentiment. In particular, position level didn’t decrease significantly before golden weeks. From daily pattern, slow stochastic KD potential create gold cross below …
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Daily Ferrous Physical Review Sep 28th
Ferrous Market – Steelbank Inventory: rebar inventories 7.37 million tonnes, down 0.33% w-o-w. HRC 2.13 million tonnes, up 0.29% w-o-w. – China HRC FOB SS400 Tianjin price at $505- 510, created global low currently. Export HRC started to grow and import steels come to an end. – Physical traders are interested in low aluminum concentrates …
Chinese mills switch back to medium grade fines
A total of 1.885 million mt of iron ores was traded for the week ended Sep 25, down 13.40% week-on-week as compared to the 2.302 million mt recorded last week. Pilbara Blend fines (PBF) accounted most of the market shares, as the combination of low grade fines and high grade fines yielded little cost effectiveness …
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DCE dips as most restocking activities end
Iron ore futures dipped lower at the day-close despite a late rally during the afternoon session. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange fell slightly by 0.20% day-on-day to RMB 764.50 per tonne on Friday. Similarly, the steel rebar contract on the Shanghai Futures Exchange posted slight drop of …
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Iron Ore DCE January Daily Technical Review Sep 25th
Verdict – Short-term neutral to bearish. DCE iron ore corrected slightly by closing from yesterday. Iron ore was strongly supported by 751.5- 754.0 area for three times during the week, observed from hourly chart. However iron ore created lower highs over past two weeks. Iron ore from mid-run is still in a bearish territory. From …
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Daily Ferrous Physical Review Sep 25th
Ferrous Market – MySteel 45 ports iron ore inventory at 116.16 million tonnes, up 1.23 million tonnes w-o-w. Daily evacuation 3.13 million tonnes down 47,100 tonnes w-o-w. Australia iron ore on ports at 57.37 million tonnes up 608,300 tonnes w-o-w. Brazil iron ore on ports at 31.69 million tonnes up 969,200 tonnes w-o-w. 157 ships …