Ferrous Market – Steelbank construction steels inventory 10.25 million tonnes, up 4.51% w-o-w. HRC inventories 3.27 million tonnes, up 3.38% w-o-w. – MySteel: January and February China export 10.14 million tonnes of steels, up 29.9% y-o-y. China import 2.395 million tonnes of steel, up 17.4% y-o-y. – China custom statistic indicated January and February iron …
Tag archives: iron ore
Iron Ore DCE May Daily Technical Review 5/3/21
Verdict – Short-term neutral. DCE iron ore may contract corrected massively during last night session after refreshed new high yesterday. Day session iron ore recovered some losses. Hourly slow stochastic KD deepened correction after a dead cross created below overbought area. Hourly CCI rebounded from the lowest since February. Short-run technical signals were indicating a …
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Ferrous Daily Physical Review 5/3/21
Ferrous Market – MySteel 45 ports iron ore inventories at 127.89 million tonnes, up 1.44 million tonnes w-o-w. Daily evacuation 2.72 million tonnes, up 234,500 tonnes w-o-w. Australia iron ore 61.52 million tonnes, up 1.33 million tonnes w-o-w. Brazil iron ore 43.69 million tonnes, down 311,000 tonnes w-o-w. 126 ships at ports, up 4. – …
Iron Ore DCE May Daily Technical Review 4/3/21
Verdict – Short-term neutral to bullish. DCE iron ore refreshed historical new highs during the current two trading days. Open interest indicated new long positions were built to drive market up. Hourly MACD expanded. Hourly CCI was approaching new high in March. Be aware of the resistance on historical high area in 1180.0- 1185.0 area, …
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Ferrous Daily Physical Review 4/3/21
Ferrous Market – MySteel Rebar Inventory: Rebar production 3.38 million tonnes, up 5.9% w-o-w.Mills inventory 5.22 million tonnes, up 1.36% w-o-w. Circulation inventory 13.04 million tonnes, up 6.73% w-o-w. – Tangshan stopped road transportation to port areas from March 3rd – 6th since a new round of air pollution expected to hit Tangshan Area. – …
Iron Ore DCE May Daily Technical Review 3/3/21
Verdict – Short-term neutral. DCE iron ore movement were narrowing within the 90 yuan range from 1089.5- 1080.0. Open interest and volume both rebounded slightly. From hourly chart iron ore support moved higher from 1089.5 – 1117.5 – 1130.0. The major resistance on 1078.0- 1080.0. Iron ore from hourly chart created an ascending triangle. Thus, …
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Ferrous Daily Physical Review 3/3/21
Ferrous Market – Tangshan closed 7 blast furnaces(450m³) and set target to quit the low rank on air pollution level among 168 major inspected cities. China political conference started from today and market expect Hebei air pollution level would come down following historical rule. Tangsong indicated pig iron decrease by 11,500 tonnes/day. Current pig iron …
FIS Weekly Ferrous Report 02/03/2021
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Iron Ore DCE May Daily Technical Review 1/3/21
Verdict – Short-term neutral. DCE iron ore corrected and price movement were slow after Chinese New Year. The first support on 1089.5 was higher than 1041, which was the lower bound of gap created during the first day after Chinese New Year. However hourly candles created a descending tunnel with lower highs and lows. Hourly …
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Ferrous Daily Physical Review 1/3/21
Ferrous Market – In the year 2020, China crude steel production 1.06 billion tonnes, up 7% y-o-y. Steel production 13.25 billion tonnes, up 10% y-o-y. China export 53.67 million tonnes of steel, down 16.5% y-o-y. Import steel 20.23 million tonnes, up 19.8% y-o-y. – Steel bank construction steel inventory 9.81 million tonnes, up 9.14% w-o-w. …