Ferrous Market Updates – MySteel researched 247 steel mills operation rate at 91.02%, up 0.26^ w-o-w, up 5.08% y-o-y. Blast furnace utilisation rate 93.08%, up 0.12% w-o-w, up 6.72% y-o-y. Daily pig iron production at 2.48 million tonnes, up 3,200 tonnes, up 178,800 tonnes w-o-w. – Mysteel 45 ports iron ores inventory 113.25 million tonnes, …
Tag archives: IO62
DCE corrects on narrowing steel margins
Iron ore future saw a slight correction and retreated from the recent rally due to narrowing steel margins. Thus, the most-traded iron ore for September delivery on China’s Dalian Commodity Exchange slipped slightly by 0.29% or RMB 2.50 to RMB 845.50 per tonne on Thursday. On the contrary, the steel rebar contract on the Shanghai …
Oil and Ore Intraday Morning Technical
Iron Ore DCE September Daily Technical Review Jul 23rd
Verdict – Short-term consolidation. Iron ore closed slight higher than last closing however created lower highs and lows, indicating exhausting in current trading days. The support observed from hourly chart at 835.0. The resistance is a descending line connecting 861.5, 854.5 and 849.5. However be aware of the divergence of last minute market between rebar(up) …
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Daily Ferrous Physical Review Jul 23rd
Ferrous Market Updates – MySteel Rebar Inventory: Rebar production 3.83 million tonnes, down 0.03% w-o-w. Mills inventory 3.43 million tonnes, up 3.63% w-o-w. Circulation inventory 8.55 million tonnes, up 1.57% w-o-w. – CISA: mid-July major mills crude steel daily production 2.14 million tonnes, up 0.36% from early July. Pig iron 1.91 million tonnes, down 0.42% …
Iron Ore DCE September Daily Technical Review Jul 22nd
Verdict – Short-term consolidation. Iron ore tested high and give back all gains, along with 4% of open interest loss in last twenty minutes. Return to bull market needs a breakthrough on 861.5. From hourly chart, Slow stochastic created a dead cross near overbought area. CCI created dead cross with iron ore price. Slow stochastic …
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Daily Ferrous Physical Review Jul 22nd
Ferrous Market Updates – Ganggu construction steel production 5.79 million tonnes, up 0.41% w-o-w. Mills inventory 5.28 million tonnes up 4.59% w-o-w. Circulation inventory 11.25 million tonnes, up 1.17% w-o-w. – MySteel Australia and Brazil iron ore delivery at 24.2 million tonnes, up 925,000 tonnes w-o-w. Australia delivery to China 16.46 million tonnes, up 1.998 …
FIS Singapore Iron Ore Derivatives Report 22/07/2020
Iron ore futures slumped on Wednesday morning in London on fresh concerns over rising US-China tensions after US forced the closure of the Chinese Consulate at Houston. Iron ore futures initially held firm, with Aug hovering around mid-108 despite China’s Ministry of Industry and Information Technology warned on Tuesday that current iron ore prices …
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Iron Ore Offshore Aug 20 Morning Technical Comment – 240 Min Chart
DCE gains on better H2 outlook
Iron ore future rose for the second consecutive day on better market outlook on anticipation of improved steel demand after rainy season in China. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange continued the upward trend with gains of 1.14% or RMB 9.50 day-on-day to RMB 841.50 a tonne on Wednesday. …