FIS API Blog
Verdict – Short-term bearish. DCE iron ore extend the correction from yesterday. Daily slow stochastic KD widened after the dead cross created yesterday. Daily MACD and CCI both created bearish divergence with iron ore price over a week. 851.5 changed from support to resistance level. Hourly chart CCI created new low since July 24th. Hourly …
Continue reading “Iron Ore DCE January Daily Technical Review Aug 20th”
Ferrous Market – Ganggu: Construction steel production 5.73 million tonnes, up 0.17% w-o-w. Mills inventory 5.23 million tonnes, up 0.87% w-o-w. Circulation 11.33 million tonnes, up 0.47% w-o-w. – MySteel Rebar Inventory: Rebar production 3.85 million tonnes, down 0.4% w-o-w. Mills inventory 3.67 million tonnes, up 1.16% w-o-w. Circulation inventory 8.67 million tonnes, up 0.96% …
Iron ore futures rose for the third consecutive days since start of the week due to robust Chinese steel demand. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange hiked up by 0.88% or RMB 7.50 day-on-day to RMB 857 per tonne on Wednesday. However, the steel rebar contract on the …
Continue reading “DCE continues to rise ahead of peak demand period”
Verdict – Short-term neutral. DCE iron ore slightly corrected during the day. From hourly chart, CCI created bearish divergence with candles during last night. Slow stochastic KD created dead cross on overbought area at the same time. MACD potential create dead cross in next few hours. If a breakdown on 850.0, the next target is …
Continue reading “Iron Ore DCE January Daily Technical Review Aug 19th”
Ferrous Market – Iron ore 45 port arrivals at 26.57 million tonnes, up 983,000 tonnes w-o-w. Northern six port arrivals at 13.30 million tonnes, up 1.96 million tonnes w-o-w. – MySteel Australia and Brazil iron ore total delivery at 25.64 million tonnes, up 1.587 million tonnes. Australia iron ore delivery 17.97 million tonnes, up 1.53 …
DCE rallies higher on tight supply and monetary policy Iron ore futures closed higher upon better buying interest amid supply tightness of medium grade ores among dockside stocks. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange continued to rally higher by 3.48% or RMB 29 day-on-day to RMB 863 per …
Continue reading “DCE rallies higher on tight supply and monetary policy”
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Iron ore futures closed on slight gains after opening lower in the morning session for the start of the week. The most-traded iron ore for January 2021 delivery on China’s Dalian Commodity Exchange then rose slightly by 0.36% or RMB 3.00 day-on-day to RMB 834.50 per tonne on Monday. In the meantime, the steel rebar …
Continue reading “DCE books small gain amid easing rebar prices”
Verdict – Short-term neutral. DCE iron ore rebounded during the day. However iron ore created lower highs and lows over this week, indicating the consolidation area is narrowing. A rejection on 851.5 would stuck iron ore in consolidation area. The test low area is from 807.5- 820.0, where iron ore saw strong support. From hourly …
Continue reading “Iron Ore DCE January Daily Technical Review Aug 14th”
Ferrous Market – Arcelor Mittal planned to build a 1.5 mtpa EAF furnace in AM/NS Calvert, a U.S. steel mill. – China eastern cement price up 30 yuan to 370 yuan, reached the high before rainy season in July. Cement in eastern areas up 50 yuan in total in August. – Mysteel 45 major ports …
