Tag archives: iron ore

Ferrous Market –    Tangshan 10 sample steel mills pig iron before tax 2702 yuan/tonne, billet cost 3474 yuan/tonne, up 110 yuan/tonne w-o-w. Gross profit 396 yuan/tonne, up 100 yuan/tonne. –    China will reduce some waste metal custom tax to 0. Mongolia coke custom tax reduced from 5% to 2.5%. –    MySteel Rebar Inventory: Rebar production …

Continue reading “Daily Ferrous Physical Review Dec 24th”

Verdict – Short-term neutral. DCE iron ore spiked and retreat from the high during last trading hour. Iron ore consolidate in the range 1027.5- 1059.0 area in short-run potentially. Hourly slow stochastic KD potentially create dead cross. Hourly MACD flattened during last two hours. Technical signals were indicating neutral. The first support is 1127.5. The …

Continue reading “Iron Ore DCE May Daily Technical Review Dec 24th”

Ferrous Market –    Ganggu Construction Steel Inventory: production 5.31 million tonnes, up 40,100 tonnes w-o-w. Mills inventory 4.46 million tonnes, up 47,800 tonnes w-o-w. Circulation inventory 5.58 million tonnes, down 92,600 tonnes w-o-w. –    MySteel Australia and Brazil iron ore total delivery at 25.17 million tonnes, up 2.45 million tonnes w-o-w. Australia iron ore delivery …

Continue reading “Daily Ferrous Physical Review Dec 23rd”

Verdict – Short-term neutral to bearish. DCE iron ore decreased total 10% open interest from Tuesday and Wednesday. From hourly candles, iron ore potentially created a roof area and face mid-run level reversal from peak area. Hourly MACD was narrowing below 0 axis. Hourly candles were continuously decreasing the volatility. Hourly slow stochastic KD created …

Continue reading “Iron Ore DCE May Daily Technical Review Dec 23rd”

Ferrous Market –    Municipality of Brumadinho, Minas Gerais,have suspended for 7 days, or until the facts of the December 18 accident are clarified.A Vale miner Corrego do Feijao landslide in 18th caused 1 death. However Vale claimed the impact is not included in the production target since this miner is closed after the dam collapse …

Continue reading “Daily Ferrous Physical Review Dec 21st”

Verdict – Short-term neutral to bullish. DCE iron ore continued the market squeeze and the intra-day high was only 50 cents from limit up. Both SHFE rebar and SHFE HRC reached limit up. A stand on the upper side of the gap at 1100.0 from hourly chart would indicate iron ore potentially maintain strong. The …

Continue reading “Iron Ore DCE May Daily Technical Review Dec 21st”

Ferrous Market –    MySteel 45 ports iron ore inventories at 124.04 million tonnes, up 2.01 million tonnes w-o-w. Daily evacuation 2.97 million tonnes, down 89,900 tonnes w-o-w. Australia iron ore 58.27 million tonnes, up 265,000 tonnes w-o-w. Brazil iron ore 41.26 million tonnes, up 587,500 tonnes w-o-w. 137 ships at ports, up 28. –    Mysteel …

Continue reading “Daily Ferrous Physical Review Dec 18/12/20”

Verdict – Short-term neutral to bullish, be aware of reversal on high area.   DCE iron ore May refreshed historical high and pick up significantly during the last half hour, indicating massive sellers left. Short squeezing increased pressure on short positions. From hourly chart, MACD increased fast. Hourly slow stochastic KD moved above overbought area. …

Continue reading “Iron Ore DCE May Daily Technical Review Dec 18/12/20”

Ferrous Market –    Ganggu Construction Steel Inventory: production 5.27 million tonnes, down 19,300 tonnes w-o-w. Mills inventory 4.41 million tonnes, up 247,600 tonnes w-o-w. Circulation inventory 5.67 million tonnes, down 289,700 tonnes w-o-w.-    MySteel import sintered iron ore inventories reached 17.38 million tonnes. Import iron ore turnover in 27 days.-    MySteel Rebar Inventory: Rebar production …

Continue reading “Daily Ferrous Physical Review 17/12/20”