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Tag archives: IO62
DCE dips on cautious trading
Iron ore futures softened for the second consecutive trading day as trade participants become more cautious after the rally seen last week. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange dropped by 1.83% or RMB 15.50 day-on-day to RMB 832.50 per tonne on Monday. However, the steel rebar contract …
DCE cools down after last week rally
Iron ore futures slid at the start of the week, after the recent rally last week that pushed iron ore prices to a record high. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange dropped by 1.83% or RMB 15.50 day-on-day to RMB 832.50 per tonne on Monday. However, the …
Iron Ore DCE January Daily Technical Review Aug 24th
Verdict – Short-term bearish. DCE iron ore correct for the fourth consecutive day, with lower lows and highs in a descending tunnel. Daily slow stochastic KD is correcting, weekly slow stochastic KD dead cross. CCI daily is moving in sharper descending trend compared with iron ore price. MACD created dead cross during the day. Technical …
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Daily Ferrous Physical Review Aug 24th
Ferrous Market – Shanghai 16-25mm rebar consolidate from 3670- 3690 yuan for previous 6 weeks. However Rizhao PBF increased 18.63% during the same period. Thus many northern mills rebar profit has been squeezed to negative area. Mills started to think about decrease sintering ores and increase proportion of lumps, which currently running at historical low …
Supply tightness push iron ore prices to further height
A total of 2.035 million mt of iron ore was exchanged hands for the week ended Aug 21, with Australian fines accounting most of the trades. Australia’s Mac fines garnered most of the market share at 18.67%, followed by Jimblebar fines at 17.69%, while the Brazil’s Carajas fines coming in third at 14.50%. During the …
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DCE corrects upon cautious trading
Iron ore futures closed lower by the end of the week, as more buyers became cautious after iron ore prices reached a record-high level earlier in the week. Thus, the most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange dropped by 1.29% or RMB 11 day-on-day to RMB 841.50 per tonne on …
Iron Ore DCE January Daily Technical Review Aug 21st
Verdict – Short-term bearish. DCE iron ore extend the correction for the third trading day of the week. DCE iron ore Jan contract challenged 860 area for six times and all ended with failure. From hourly chart, iron ore broke neckline around 841.0 and start to deeper correction targeting 807.5. MACD widened below 0 axis. …
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Daily Ferrous Physical Review Aug 21st
Ferrous Market – MySteel 45 ports iron ore inventory at 112.42 million tonnes, down 813,300 tonnes w-o-w. Daily evacuation 3.27 million tonnes down 12,600 tonnes w-o-w. Australia iron ore on ports at 57.86 million tonnes down 967,800 tonnes w-o-w. Brazil iron ore on ports at 28.45 million tonnes up 693,000 tonnes w-o-w. 185 ships at …
DCE dips on cautious market sentiment
Iron ore futures ended the bullish run after iron ore prices reached a six year high recently on robust Chinese steel demand. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange dropped by 1.40% or RMB 12 day-on-day to RMB 848 per tonne on Thursday. Similarly, the steel rebar contract on …