FIS API Blog
Verdict – Short-term neutral to bearish. DCE iron ore September is expected to roll to January contract as major contract next Monday. The U.S. China tension once again linked commodities sector and equity very closely. Iron ore in general in a sentiment to test low. DCE iron ore evaporated 35,000 lots of positions which were …
Continue reading “Iron Ore DCE September Daily Technical Review Aug 7th”
Ferrous Market – Mysteel 45 major ports iron ores inventory 113.46 million tonnes, down 569,600 tonnes w-o-w. Daily evacuation 3.16 million tonnes, up 50,000 tonnes w-o-w. Austrilian iron ores inventory 61.24 million tonnes, down 1.3979 million tonnes w-o-w. Brazil iron ores inventory 26.53 million tonnes, up 810,900 tonnes w-o-w. 168 ships at ports up 9 …
Verdict – Short-term consolidate at high level. DCE iron ore September is expected to roll to January contract as major contract from tomorrow or early next week. According to historical rule, rolling normally come along with smaller open interest. That is to say, the previous long interest built to push iron ore market up potentially …
Continue reading “Iron Ore DCE September Daily Technical Review Aug 6th”
Ferrous Market – Lianyun Port ships congested because some crew are tested positive of Covid-19. The rest of northern ports are operating normally. Ships at northern are also impacted shortly by the previous typhoon. – MySteel Rebar Inventory: Rebar production 3.84 million tonnes, down 0.74% w-o-w. Mills inventory 3.49 million tonnes, down 0.33% w-o-w. Circulation …
Iron ore futures advanced above $112 a tonne on Wednesday amidst of fresh waves of speculative trading seen in the market. Rebar and iron ore were supported after hearing that steel inventory is down this week. Steel inventory data by Mysteel is due to be released tomorrow. At the same time, there are signs that …
Continue reading “Speculation sees iron ore advance above $112/tonne”
Verdict – Short-term consolidate at high level. DCE iron ore September contract closed slight lower than yesterday. A further breakthrough on 897.0 would drive price to a fast growing tunnel. However a breakdown on 874.0 would lead iron ore to short-run correction. From hourly chart, slow stochastic KD created dead cross last night and deepened …
Continue reading “Iron Ore DCE September Daily Technical Review Aug 3rd”
Ferrous Market – Brazil iron ore July export 33.99 million tonnes up 13% from June. – China 45 ports arrivals at 25.28 million tonnes, up 1.61 million tonnes. Northern six ports arrivals at 13.96 million tonnes, up 1.09 million tonnes. – Mysteel iron ore deliveries at 23.73 million tonnes previous week, down 815,000 tonnes w-o-w. …
Verdict – Short-term consolidate at high level. Iron ore rebounded during the first half hour by Asian morning, along with significant volume and open interest built. DCE iron ore September contract created yearly-high, the high of previous year was 924.5 created in Jul 16th, 2019. Most of commodities rebounded during this morning. However be aware …
Continue reading “Iron Ore DCE September Daily Technical Review Aug 3rd”
Ferrous Market Updates – Steelbank Inventory: rebar inventories 7.60 million tonnes, up 1.12% w-o-w. HRC 1.88 million tonnes, up 2.04%. – China Mettallurgical Association statistics indicated Jun China iron ore concentrates 23.77 million tonnes, up 2.7% m-o-m. Jan – Jun iron ore production 130 million tonnes, down 0.3% y-o-y. Glencore said it will lower coal …