Iron ore futures continued to rise throughout the week on good steel demand from China amid peak construction season. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange rose slightly by 0.88% or RMB 7.50 day-on-day to RMB 857.50 per tonne on Thursday. Likewise, the steel rebar contract on the Shanghai …
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Iron Ore DCE January Daily Technical Review Sep 3rd
Verdict – Short-term neutral. DCE iron ore Jan closed with a doji, indicating a severe exhaustion after a round of push. The open interest and volume both up indicating confliction between long and short positions. DCE iron ore September is pegged with physical and stable arround 935- 940.0 area, which potentially restrict Jan on roof …
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Daily Ferrous Physical Review Sep 3rd
Ferrous Market – Vale started a level-1(lowest level) emergency protocol for Paracatu and Patrimonio dikes. The preventive measure doesn’t require the evacuation of the population and non impact Vale’s 2020 output. – Mysteel 64 sample steel mills seaborne sintered iron ore inventory 16.53 million tonnes. Seaborne iron ore turnover in 24 days. – Ganggu Construction …
DCE rallies on peak steel season
Iron ore futures maintained the bullish run on better steel demand from China due to peak construction activities season during the Sep-Oct period. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange rose by 1.06% or RMB 9 day-on-day to RMB 854.50 per tonne on Wednesday. However, the steel rebar contract …
Iron Ore DCE January Daily Technical Review Sep 2nd
Verdict – Short-term neutral. DCE iron ore pushed with increasing new open long positions. However daily high is rejected by yesterday high at 859.5. The 840.5 was a strong support area observed during this week. Short run iron ore needs to breakthrough the consolidation box from 808.0- 859.5, otherwise potentially consolidating currently. The return to …
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Daily Ferrous Physical Review Sep 2nd
Ferrous Market – Mysteel surveyed Australia port overhaul potentially impact 1.37 million tonnes of delivery. In addition, Geraldton No.5 port delivery is impacted by sea wave. – Tangshan Fengrun area execute environment production curb from September 1st to 15th, majorly restricting blast furnace, steel-making and rolling mills. – MySteel 45 ports iron ore arrived 24.55 …
DCE inches up on fastest PMI growth
Iron ore futures continued to rally for the second consecutive days on good economic indicators and robust steel demand. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange rose slightly by 0.24% or RMB 2 day-on-day to RMB 846.50 per tonne on Tuesday. The steel rebar contract on the Shanghai Futures …
FIS Weekly Ferrous Report 01092020
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DCE rallies from strong steel demand and positive PMI
Iron ore futures started the week on higher note due to strong Chinese steel demand and positive economic indicator. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange rose by 2.61% or RMB 21.50 day-on-day to RMB 844 per tonne on Monday. The steel rebar contract on the Shanghai Futures Exchange …
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Iron Ore DCE January Daily Technical Review Aug 31st
Verdict – Short-term neutral. DCE iron ore September decreased positions massively since this is the last trading day for individual clients before entering delivery month at sep contract. The fall of September contract indicated there is no delivery profits for September buyers after market pushed high earlier today. At the same time, jan contract is …
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