Chinese futures hiked to slight gain on Wednesday, as the iron ore rally slowed after six consecutive days of positive run. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, went up slightly by 0.93% day-on-day to RMB 704.50 per tonne on Wednesday. On the contrary, the steel rebar …
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Iron Ore Offshore June 20 Morning Technical Comment – 240 Min Chart
China May Tighten Australian Coal Imports Amid Tensions
China may tighten Australian coal imports amid recent tensions between the two countries, according to a daily note from China Coal Market, which is affiliated with China Coal Transport and Distribution Association. * If the curbs are put in place, Australian coal prices will be hit, said the note * NOTE: China targeted Australian coal …
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Iron Ore Gains as Mills Shell Out Premium in Tight Market
Iron ore is on an extraordinary rally this month as growing optimism about China stimulus fuels a market already concerned about one of its biggest suppliers. The futures contract in China has surged more than 16% in May alone as stronger-than-expected demand combined with Brazil’s emergence as the world’s new coronavirus hotspot, spurring concerns that …
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DCE jumps for the fifth day on stimulus expectation
Chinese futures jumped for the fifth consecutive trading day on anticipation of further infrastructure stimulus introduced during the National’s People Congress. Thus, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, hiked further by 3.64% day-on-day to RMB 711 per tonne on Tuesday. Similarly, the steel rebar contract on …
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Iron Ore Offshore June 20 Morning Technical Comment – 240 Min Chart
China construction in the bubble, iron ore demand risk remains
Ferrous Sector Money Flow: DCE iron ore aggregated open interest is up 38.97% from April 29th and reached the highest level in Q2, coking coal decreased by 18.55% during the same period. Steel, coke and flat glass used in house construction remained stable on open interest. Investors should be aware of money flow out of …
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Steel on the march as Brazil supply, port stocks fall
Iron ore futures soared on Monday on supply-side concerns as major producer Brazil becomes a global hotspot for coronavirus. The country has now close to a quarter of a million cases, the four largest total case count, and a death of over 16,000. According to shipping activity models by Westpac, supply from Brazil has fallen …
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DCE rallies on high demand and tightening supply
Chinese futures rose on better Chinese iron ore demand, while tight port inventory and slow shipment continued to support price upticks. As such, the most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, jumped by 5.41% on-day to RMB 691.50 per tonne on Monday. Following the rally, the steel rebar …
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Who Says Elephants Can’t Dance: Rio Tinto’s first blockchain trade
Mining major, Rio Tinto’s first blockchain iron ore trade with Baosteel this week may set the trend for more such trades to come. The paperless trade transaction was done via the Contour trade finance blockchain platform, that breaks away from the traditional paperwork when documents were normally couriered for inspection. This ‘breakaway’ buried the image …
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