FIS API Blog
Chinese futures came slightly flat today after a selloff in the morning session, before recovering loss grounds later at afternoon session. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, edged up slightly by 0.40% day-on-day to RMB 755 per tonne on Wednesday. Likewise, the steel rebar contract on …
Continue reading “DCE flattens after Vale’s supply assurance”
Verdict – Short-term consolidation. DCE iron ore closed at 755.0 yuan slight lower than previous 757.0 yuan. The trading volume narrowed with a slight increase on open interest. From hourly chart, slow stochastic created second lower dead cross above overbought area, however flattened. Daily candles created a doji, and iron ore entered a symmetrical triangle …
Iron Ore and Steel Market Updates – Turkey Iskenderun mill Koc Metalurji will extend suspension to July. KM produced 1.2 million iron ore mtpa, 550,000 tonnes of rebar annually. – Ukraine DCH group miner subsidiary Sukhaya Balka Jan – Apr production down 3.7% to 875,000 tonnes y-o-y. – CISA and Vale tele-conference suggest Vale currently …
Iron ore futures rallied above $98 on Tuesday on better Chinese outlook and ongoing supply concerns from Brazil. Iron ore port inventories have fallen to a four-year low as China moved past the coronavirus pandemic, prompting Chinese steel mills to ramp up output, boosting demand for iron ore. The latest Purchasing Manager’s Index for …
Continue reading “Iron ore “could continue to test new highs””
Chinese futures struggled to stay on positive after a selloff near closing that threatened to give up all the gains made in the morning session. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, went up slightly by 0.07% day-on-day to RMB 757 per tonne on Tuesday. Similar …
Ferrous Sector Money-flow: DCE iron ore aggregated open interest reached a high at 1.18 million lots on February 21 as well as creating periodic high, following a correction of 19.26%. The open interest high last week was 1.15 million lots. Long positions need to be aware of the similar correction happen for the second time …
Continue reading “Iron ore consolidation points to potential reversal”
Iron ore futures soared on Monday after latest data indicated that China is recovering robustly from the coronavirus pandemic. The Caixin/Markit Manufacturing Purchasing Manager for May came in at 50.7, better than both market estimates and the reading of previous month of 49.6 and 49.4 respectively, indicating that China is expanding faster than expected. …
Continue reading “Iron ore soars on China recovery, supply fears”
