A total of 1.237 million mt of iron ore was exchanged hands for the week ended Aug 28, lowered than the 2.035 million mt recorded last week. Low grade fines took the centerstage this week, as Yandi fines accounted the most transacted at 22.63%, followed by Jimblebar fines at 16.17%, then SFM1 at 14.32% and …
Tag archives: IO62
DCE ends the week higher on robust steel demand
Iron ore futures closed the week on higher notes due to robust steel production as well as concerns over shipping disruptions from Typhoon Bavi. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange then rose by 1.40% or RMB 11.50 day-on-day to RMB 832.50 per tonne on Friday. Then, the steel …
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Iron Ore DCE January Daily Technical Review Aug 28th
Verdict – Short-term neutral. DCE iron ore followed the rebound of shanghai equity, which has corrected over the entire week. Be aware of short-run money game since the volume boost up in some typical time spots of scalpers, for example, Asian opening, before T-break and after Afternoon starts. Iron ore September contract push up more, …
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Daily Ferrous Physical Review Aug 28th
Ferrous Market – MySteel 45 ports iron ore inventory at 113.1 million tonnes, up 687,600 tonnes w-o-w. Daily evacuation 3.11 million tonnes down 167,000 tonnes w-o-w. Australia iron ore on ports at 57.35 million tonnes down 504,700 tonnes w-o-w. Brazil iron ore on ports at 29.80 million tonnes up 1.35 million tonnes w-o-w. 188 ships …
DCE finishes lower on output restriction concerns
Iron ore futures opened high but closed lower due to market concerns over lower demand from output restriction in Tangshan. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange then dipped slightly by 0.43% or RMB 3.50 day-on-day to RMB 814.50 per tonne on Thursday. Meanwhile, the steel rebar contract on …
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Iron Ore DCE January Daily Technical Review Aug 27th
Verdict – Short-term bearish. DCE iron ore daily chart created five waves according to Elliot theory. Currently entering the first correction phase. Any rebound is opportunity for short position. However a rebound above 851.5 could be a level to reverse. From hourly chart, 807.5- 811.0 is an area support iron ore market for many times …
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Daily Ferrous Physical Review Aug 27th
Ferrous Market – MySteel researched 64 steel mills import iron ore concentrates at 16.71 million tonnes. Iron ore turnover in 25 days. – Iron ore traded actively in Corex yesterday, most are port trades. Current market is reluctant to accept higher iron ore price, trade volume become light each time after iron ore rebound since …
DCE closes higher on late rally
Iron ore futures closed higher after a late rally at the afternoon session, as more buyers entered the market with rumors of declining port inventory. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange rose by 0.73% or RMB 6 day-on-day to RMB 828.50 per tonne on Wednesday after opening …
Iron Ore DCE January Daily Technical Review Aug 26th
Verdict – Short-term neutral. DCE iron ore rebound after a streak of losses over previous five trading days. Iron ore Jan created higher lows compared to last trading day. Current effective support at 808.0, which was tested in early August as well for many times. Hourly MACD created gold cross, however in the late market. …
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Daily Ferrous Physical Review Aug 26th
Ferrous Market – Ganggu Construction Steel Inventory: production 1.92 million tonnes, up 2.73% w-o-w. Mills inventory 2.96 million tonnes, down 8.40% w-o-w. Circulation inventory 5.38 million tonnes, down 5.52% w-o-w. – MySteel 45 port previous week iron ore arrived 24.99 million tonnes, down 1.58 million tonnes w-o-w. Northern six ports arrivals at 13.78 million tonnes, …