FIS API Blog
Verdict – Short-term bearish. DCE iron ore broke down 746.5, the neckline of previous multiple tops from June 5th. If a further breakdown on 733.0, iron ore potentially entered a bearish market and targeting 685.5. From hourly chart, Iron ore created dead cross during this morning with massive volume. Slow stochastic KD widened after a …
Continue reading “Iron Ore DCE September Daily Technical Review Jun 29th”
Ferrous Market Updates – MySteel 45 ports iron ore inventory at 107.81 million tonnes, up 1.64 million tonnes w-o-w. Daily evacuation 3.20 million tonnes up 93,800 tonnes w-o-w. Australia iron ore on ports at 61.34 million tonnes up 619,000 tonnes w-o-w. Brazil iron ore on ports at 21.73 million tonnes up 402,500 tonnes w-o-w. – …
Australian medium grade fines kept its high popularity status among Chinese buyers for the week ended on 26 Jun 2020. The short trading saw a total of 2.4 million mt iron ore exchanged hands, up 21.26% on-week from previous week volumes at 1.9 million mt. New platform for iron ore trading The uptick of …
Continue reading “PBF purchases remain popular among Chinese mills”
Chinese futures remained stagnant in the view of the Dragon Boat festival in the Jun 25-27 period. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, were unchanged day-on-day at RMB 771 per tonne on Thursday. Similarly, the steel rebar contract on the Shanghai Futures Exchange was flat at …
Continue reading “DCE off for Dragon Boat festival holidays”
Iron ore futures extended gains on Wednesday as investors assessed risks from the Coronavirus pandemic. There are worrying signs that the outbreak has worsened in Brazil, with the nation recently surpassing the mark of one million confirmed cases and 50,000 deaths. Latest figures showed that Brazil added new deaths, bringing the total to …
Continue reading “Steel futures up on mixed Coronavirus news”
Chinese futures rebounded from recent corrections after a late rally seen in the afternoon session, prompted by a flurry of trades done at higher levels. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, jumped by 2.05% day-on-day to RMB 771 per tonne on Wednesday. The steel rebar …
Ferrous Market Updates – BHP narrowed JMBF discount from 7% in June to 4.5% in July, Yandi discount from 5.5% to 3.5%. MAC fines discount unchanged at 0.5%. The adjustment on discount is due to enhancement on ferrous, silicon and aluminum. – Brazil iron ore shipments to China significantly increase in June. In addition, northern …
Iron ore futures moved above $99 on restocking ahead of the Chinese holiday. It was a busy day for iron ore traders as a flurry of trades were transacted as steel mills look to restock ahead of the Dragonboat festival holiday on Thursday and Friday. Some trade sources are expecting more spot supply …
Continue reading “Pre-holiday restocking lifts iron ore futures”
Chinese futures continued to slide for the second consecutive days as the market headed toward correction after the rally last week. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, decreased slightly by 0.33% to RMB 757 per tonne on Tuesday. The steel rebar contract on the Shanghai Futures …
