FIS API Blog
Iron ore futures rebounded on Thursday over higher buying interests for limited mainstream Australian fines. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange then rose slightly by 0.85% or RMB 7.00 day-on-day to RMB 826.50 per tonne on Thursday. On the contrary, the Shanghai Futures Exchange stayed rather flattish before dipping …
Continue reading “DCE bounces back on better buying interests”
Verdict – Short-term neutral. DCE iron ore tested low and recovered most of losses. Daily slow stochastic KD created dead cross in overbought area. CCI created bearish divergence with iron ore price since August 6th. This bearish divergence normally indicate price has correction risk. The return to bull needs a breakthrough on 851.5. A breakdown …
Continue reading “Iron Ore DCE January Daily Technical Review Aug 13th”
Ferrous Market – Ukraine export 27.03 million tonnes of iron ore from this January to July, up 16% y-o-y. – China National Statistic Bureau: major steel enterprises crude steel daily production 2.15 million tonnes, down 0.87% from late July, up 5.14% y-o-y. Daily pig iron 1.92 million tonnes, down 0.6% from end July, up 5.39% …
Iron ore futures dropped on Wednesday over the port congestion issues in China which were likely to ease only in late August. Thus, the most-traded iron ore for September delivery on China’s Dalian Commodity Exchange dipped by 0.89% or RMB 7.50 day-on-day to RMB 832.50 per tonne on Wednesday, despite a late rally at the …
Verdict – Short-term neutral. DCE iron ore pushed high along with equities after a test low around 807.5, which was a strong level previously. From hourly chart, iron ore on the “right shoulder” was higher than the “left shoulder”. The next breakthrough on 851.5 will bring iron ore back to bullish market. Hourly MACD is …
Continue reading “Iron Ore DCE January Daily Technical Review Aug 12th”
Ferrous Market – MySteel Australia and Brazil iron ore total delivery at 24.05 million tonnes, up 322,000 tonnes. Australia iron ore delivery 16.44 million tonnes, down 246,000 tonnes w-o-w. Australia delivery to China 14.29 million tonnes, up 734,000 tonnes w-o-w. Brazil iron ore delivery 7.6 million tonnes, up 568,000 tonnes w-o-w. Global iron ore delivery …
Iron ore futures rebounded on Tuesday, after recent losses as the exchange issued a statement last week urging market participants to trade rationally. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange gained by 2.33% or RMB 19 day-on-day to RMB 834 per tonne on Tuesday. However, the Shanghai Futures Exchange dropped …
Verdict – Short-term neutral. DCE iron ore major changed from September to January over current two trading days. January contract slight up however September contract slight down, indicating current long are betting on far contract value and expect current month value is too high. If iron ore January contract break 828.5, a five-year high, iron …
Continue reading “Iron Ore DCE January Daily Technical Review Aug 10th”
Ferrous Market – Steelbank Inventory: rebar inventories 7.499 million tonnes, down 1.34% w-o-w. HRC 1.88 million tonnes, down 0.11% w-o-w. – Metinvest BW Q2 iron ore concentrates produced 7.57 million tonnes, down 1% from Q1. H1 iron ore concentrates produced 15.17 million tonnes, up 5% y-o-y. Macro – China railroads totaled investments 67.1 billion yuan …
