Verdict – Short-term consolidation. DCE iron ore rebounded from DCE night session, however consolidated within narrow range from 743.0- 746.0 area in Asian hours. From hourly chart, multiple tops pattern has created and the low of candles broke down neckline on 738.0 area. Thus, iron ore is still in a correction tunnel, unless a breakthrough …
Tag archives: IO65
FIS Daily Physical Review Jun 5th
Iron Ore and Steel Market Updates – MySteel 45 ports iron ore inventory at 107.54 million tonnes, down 311, 500 tonnes w-o-w. Daily evacuation 3.14 million tonnes up 121,400 tonnes w-o-w. Australia iron ore on ports at 60.51 million tonnes down 499,800 tonnes w-o-w. Brazil iron ore on ports at 21.79 million tonnes down 147,700 …
Iron Ore DCE September Daily Technical Review Jun 4th(Hourly Chart from May 19th to Jun 4th)
Verdict – Short-term bearish. DCE iron ore rejected by roof area at 770.0(last high at 775.0) and then created a slump before noon and before afternoon DCE closing, both timing with huge volume of long covering. The low breakdown the neckline from hourly range and created a multiple top. A reversal has created and mid-run …
FIS Daily Physical Review Jun 4th
Iron Ore and Steel Market Updates – NDMC produced 2.29 million tonnes of iron ore, down 24.7% y-o-y. NDMC sold 2.55 million tonnes of iron ore down 24.3% y-o-y. – Vietnam steel mill HòaPhát sign an agreement to sell 120,000 tonnes to steel billet to CIEC Group in Hangzhou, China, with a contract value around …
Iron Ore DCE September Daily Technical Review Jun 3rd(Hourly Chart from Apr 16th to Jun 3rd)
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 …
FIS Daily Physical Review Jun 3rd
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 …
FIS Ferrous Weekly Report 02/06/2020
Iron Ore DCE September Daily Technical Review Jun 1st(Hourly Chart from Apr 16th to Jun 1st)
Verdict – Short-term reversal on high level. DCE iron ore pushed up and loss all gains by last two hours. From hourly chart, slow stochastic KD created dead cross in overbought area. CCI created divergence with candles during the second hour of Asian morning. It is worth noting that 100,000 lots of long positions built …
FIS Daily Physical Review Jun 1st
Iron Ore and Steel Market Updates – Tangshan brought out new air pollution restriction in June, will potentially affect 35,000 tonnes of pig iron production, equal to 12% lower on blast furnace utilisation rate in Tangshan. – Steelbank Inventory: rebar inventories 7.49 million tonnes, down 4.24% w-o-w. HRC 2.21 million tonnes, down 6.93% w-o-w. – …
Iron ore futures surge as inventories dive
Iron ore futures advanced again on Thursday amid ongoing supply concerns from Brazil. Brazilian miner Vale is the subject of an anti-corruption lawsuit; with the company alleged to have hindered inspections at the site of a dam that was collapsed early last year. Furthermore, it was reported that there had been a sudden …
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