FIS API Blog
Verdict – Short-term neutral. DCE iron ore rebounded aggressively by DCE afternoon session opening, and give back most of gains quickly. The rebound is potentially a test high of market. DCE iron ore in short-run still stuck in consolidation area. A rebound needs a confirm of breakthrough 772.0 area. A correction needs a confirm to …
Continue reading “Iron Ore DCE September Daily Technical Review Jul 6th”
Ferrous Market Updates – Steelbank construction steel inventories 7.11 million tonnes, up 1.73% w-o-w. HRC inventories 1.84 million tonnes, up 1.08% w-o-w. – Tangshan announced a new round of environment protection and production curb started from July 5th. However details to be announced. – Some traders indicated currently seaborne iron ore were strong last week …
A total of 3.05 million mt of iron ore was exchanged hands for the week ended Jul 3, up 26.60% week-on-week from previous week traded volumes. As usual, the Australian Pilbara Blend Fines (PBF) remained the most popular products among buyers, accounting nearly 34% of the trades. The next popular products went to Jimblebar fines …
Continue reading “Australian products overshadow Brazilian high-grade ores”
Chinese futures ended the week in positive despite mixed market outlook regarding the softening steel demand. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, rose slightly by RMB 5.00 or 0.67% day-on-day at RMB 746.50 per tonne on Friday. The steel rebar contract on the Shanghai Futures Exchange …
Verdict – Short-term neutral. DCE iron ore consolidate in narrow range, open interest continuously exhaust. Iron ore trading range stuck in 737 – 748.5 area for current four trading days. The bigger range from 733.0 to 752.0. Iron ore will keep consolidating if fail to breakthrough the current range. Be aware of Friday games, iron …
Continue reading “Iron Ore DCE September Daily Technical Review Jul 3rd”
Ferrous Market Updates – MySteel 45 ports iron ore inventory at 108.09 million tonnes, up 276,500 tonnes w-o-w. Daily evacuation 3.15 million tonnes down 50,000 tonnes w-o-w. Australia iron ore on ports at 61.49 million tonnes up 156,000 tonnes w-o-w. Brazil iron ore on ports at 22.42 million tonnes up 693,000 tonnes w-o-w. 147 ships …
Chinese futures moved to slight decline over industry concerns over China’s low steel demand in summer season. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, slipped slightly by RMB 3.00 or 0.40% day-on-day at RMB 738.50 per tonne on Thursday. On the contrary, the steel rebar contract on …
