Daily Ferrous Physical Review Sep 30th

Ferrous Market –    Vale stopped Minas Gerais mining company Viga for 3 months, total impact 999,000 tonnes of pellitising iron ores. It is the second time of closure after Vale acquired this company from last August. However no direct impact on mid-stream concentrates. –    Mysteel(Sep 21- 27th) Australia and Brazil iron ore total delivery at …

Iron ore rises on potential Vale Viga shutdown

Iron ore futures rose above $116 on Tuesday as investors assessed potential impact after a Brazilian court ordered a shutdown of Vale’s operations at the Viga concentration plant; at the same time authorities in Australia are contending with a rising number of coronavirus cases.   In a statement released by Vale, the Brazilian miner was …

FIS Iron Ore Weekly Ferrous Report

Money Movement and Macro Market The ferrous sector has started to correct after moves to control financial leverage of housing companies. This triggered some debt issues at Evergrande, one of the biggest housing companies, but the government also clarified and extend the deleveraging process to the 2023 (Bloomberg). Short-run stress finally reached an end on …

FIS Daily Ferrous Report

Iron ore futures ticked up above $114 on Monday amid growing profits for industrial companies in China, though subdued trading and thin volumes are expected this week ahead of China’s “golden week” holidays. According to data from the National Bureau of Statistics, profits at Chinese industrial enterprises rose for a fourth month, as the continued …

Iron Ore DCE January Daily Technical Review Sep 28th

Verdict – Short-term neutral. DCE iron ore technically entered a consolidation range. Iron ore created long upper and lower shadow for previous five trading days, indicating long and short are in a conflicting sentiment. In particular, position level didn’t decrease significantly before golden weeks. From daily pattern, slow stochastic KD potential create gold cross below …

Daily Ferrous Physical Review Sep 28th

Ferrous Market –    Steelbank Inventory: rebar inventories 7.37 million tonnes, down 0.33% w-o-w. HRC 2.13 million tonnes, up 0.29% w-o-w. –    China HRC FOB SS400 Tianjin price at $505- 510, created global low currently. Export HRC started to grow and import steels come to an end. –    Physical traders are interested in low aluminum concentrates …

Iron Ore DCE January Daily Technical Review Sep 25th

Verdict – Short-term neutral to bearish. DCE iron ore corrected slightly by closing from yesterday. Iron ore was strongly supported by 751.5- 754.0 area for three times during the week, observed from hourly chart. However iron ore created lower highs over past two weeks. Iron ore from mid-run is still in a bearish territory. From …

Daily Ferrous Physical Review Sep 25th

Ferrous Market –    MySteel 45 ports iron ore inventory at 116.16 million tonnes, up 1.23 million tonnes w-o-w. Daily evacuation 3.13 million tonnes down 47,100 tonnes w-o-w. Australia iron ore on ports at 57.37 million tonnes up 608,300 tonnes w-o-w. Brazil iron ore on ports at 31.69 million tonnes up 969,200 tonnes w-o-w. 157 ships …

Iron Ore DCE January Daily Technical Review Sep 24th

Verdict – Short-term neutral to bearish. DCE iron ore entered a short-run consolidation area after the second round of correction. The support at 751.5 is strong since lower area is theoretical support for a double tops pattern. However daily MACD created a classic bearish pattern when seeing longer term MA is bigger than short term …