FIS API Blog
Iron ore futures saw losses on the back of the biggest fall of Chinese stocks in more than five months, as investors cooled down their buying spree on signs of policy tightening after the country’s economic growth in the second quarter beat expectations. This, coupled with some profit-taking activities on the back of the …
Continue reading “China stocks slide sparks iron ore sell-off”
Iron ore futures slipped slightly on Thursday, for correction after the recent rally amid mixed market outlook. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange dipped by 0.84% or RMB 7/mt day-on-day to RMB 826.50 a tonne. Likewise, the steel rebar contract on the Shanghai Futures Exchange also dropped by RMB …
Ferrous Market Updates – Mysteel mills inventory 16.13 million tonnes. Inventory turnover in 23 days. – MySteel Rebar Inventory: Rebar production 3.83 million tonnes, down 1.49% w-o-w. Mills inventory 3.31 million tonnes, down 3.22% w-o-w. Circulation inventory 8.42 million tonnes, up 2.99% w-o-w. – Economic Data – China Q2 GDP down 3.2% y-o-y, up 11.5% …
Iron ore futures surged above 109 in London morning on Wednesday, reversing early losses in Asia, on fresh concerns of coronavirus outbreak in China. According to sources at port, a crew member in Lianyun Port was rumoured to have contracted the coronavirus, leading to fears of possible delays in ships unloading. So far, China …
Continue reading “Iron ore futures yo-yo as China steel exports fall”
Iron ore futures inched up higher on Wednesday, as market participants became more cautious amid mixed market outlooks. The most-traded iron ore for September delivery on China’s Dalian Commodity Exchange went up by 0.54% or RMB 4.50/mt day-on-day to RMB 837 a tonne. Following the upturn, the steel rebar contract on the Shanghai Futures Exchange …
Verdict – Short-term neutral. DCE iron ore tested low over last night and recovered the loss during day session. Daily iron ore closed with a doji. Both high and lows are narrower than yesterday. The strong support is on 823.5 area, price reverse several times during this week. If iron ore breakthrough 845.0, it will …
Continue reading “Iron Ore DCE September Daily Technical Review Jul 15th”
Ferrous Market Updates – Ganggu Construction Steel Inventory: production 5.77 million tonnes, up 15,700 tonnes w-o-w. Mills inventory 5.05 million tonnes, down 354,300 tonnes w-o-w. Circulation inventory 11.13 million tonnes, up 207,000 tonnes w-o-w. – MySteel 45 port previous week iron ore arrived 23.45 million tonnes, down 656,000 tonnes w-o-w. Northern six ports arrivals at …
