Iron ore futures remained flattish since market opening but benefited from a late rally in the afternoon session for gains. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange then rose slightly by 0.33% day-on-day to RMB 767 per tonne on Thursday. Likewise, the steel rebar contract on the Shanghai Futures …
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Iron Ore DCE January Daily Technical Review Sep 24th
Verdict – Short-term neutral to bearish. DCE iron ore entered a short-run consolidation area after the second round of correction. The support at 751.5 is strong since lower area is theoretical support for a double tops pattern. However daily MACD created a classic bearish pattern when seeing longer term MA is bigger than short term …
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Daily Ferrous Physical Review Sep 24th
Ferrous Market – Ganggu Construction Steel Inventory: production 5.53 million tonnes, down 49,300 tonnes w-o-w. Mills inventory 4.86 million tonnes, up 34,800 tonnes w-o-w. Circulation inventory 11.17 million tonnes, up 143,200 tonnes w-o-w. – MySteel Rebar Inventory: Rebar production 3.76 million tonnes, up 1.03% w-o-w. Mills inventory 3.51 million tonnes, down 1.08% w-o-w. …
DCE dip slightly on slow demand
Iron ore futures stayed rather flattish due to a slowdown in steel demand and lower steel prices. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange dipped slightly by 0.65% day-on-day to RMB 766.50 per tonne on Wednesday. However, the steel rebar contract on the Shanghai Futures Exchange saw a slight …
DCE drops further on lower steel prices
Iron ore futures continued to slide on lower steel prices as steel demand started to lose steam amid peak construction season. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange fell by 2.03% day-on-day to RMB 772.50 per tonne on Tuesday. However, the steel rebar contract on the Shanghai Futures Exchange …
DCE plunges on lower steel demand
Iron ore futures went off the cliff on Monday due to the lower than expected steel demand and bearish market sentiment. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange went to a steep dive since opening, dropping 2.88% day-on-day to RMB 776 per tonne on Monday. Likewise, the steel rebar …
A constant reliance on medium grade fines
A total of 2.302 million mt of iron ores was traded for the week ended Sep 18, up 13.40% as compared to the 2.03 million mt recorded last week. Pilbara Blend fines (PBF) had once again accounted almost half of the transacted trades for this week at 49% of the market share, which was similar …
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DCE bounces on high restocking demand and good Q4 outlook
Iron ore futures rebounded and closed on high due to restocking demand ahead of China’s week-long National Day holidays in early October. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange hiked up by 1.58% day-on-day to RMB 803 per tonne on Friday. The steel rebar contract on the Shanghai Futures …
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DCE falls over slow steel demand
Iron ore futures continued the downward trend on lower than expected steel demand and falling steel prices. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange dropped further by 2.71% day-on-day to RMB 790 per tonne on Thursday. The steel rebar contract on the Shanghai Futures Exchange however stayed more flattish …
Iron Ore DCE January Daily Technical Review Sep 17th
Verdict – Short-term bearish. DCE iron corrected in narrower range during the day, intra-day low was supported by 783.5, 60 day moving average. Breaking down 777.5- 783.5 area would suggest iron ore entering a long-run bearish market. Otherwise iron ore follow a cyclely correction in weekly level. Iron ore did not test high at all …
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