Ferrous Market – MySteel 45 ports iron ore inventories at 128.12 million tonnes, up 482,500 tonnes w-o-w. Daily evacuation 3.1986 million tonnes, up 68,000 tonnes w-o-w. Australia iron ore 60.72 million tonnes, up 418,000 tonnes w-o-w. Brazil iron ore 39.56 million tonnes, up 174,000 tonnes w-o-w. 133 ships at ports, down 16. – Mysteel researched …
Tag archives: iron ore
Iron Ore DCE January Daily Technical Review Nov 5th
Verdict – Short-term neutral to bearish. Iron ore morning session saw a big increase on new short which drive down price. In the afternoon the recover was also due to a short covering. As a result, iron ore short positions have more initiatives compared with long positions. A breakdown on next resistance 772.5 would smash …
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Daily Ferrous Physical Review Nov 5th
Ferrous Market – Tangshan area 10 mills gross profit up 47 yuan to 302 yuan/tonne from last week. – Some Tangshan trade sources indicate HRC rolling mills stop operation from 4th – 6th. Some structural steel mills stopped operation again after previous curb end in Nov 1st, restart date to be announced. – Vale resorted …
Iron Ore DCE January Daily Technical Review Nov 4th
Verdict – Short-term neutral to bearish. DCE iron ore tested 805.5 five times from hourly chart since Oct 16th. However the supports are becoming higher. The current range area is 783.5 – 805.5, a rejection on both bounds would maintain iron ore in consolidation. Open interest evaporated significantly by 40,000 lots, the biggest single down …
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Daily Ferrous Physical Review Nov 4th
Ferrous Market – Ganggu Construction Steel Inventory: production 5.32 million tonnes, up 17,800 tonnes w-o-w. Mills inventory 3.82 million tonnes, down 301,500 tonnes w-o-w. Circulation inventory 8.66 million tonnes, down 704,400 tonnes w-o-w. – Eurofer estimated steel apparent consumption down 14.6% in the year 2o2o, previous expected down 16.6%. Expected apparent consumption up 13% in …
Iron Ore DCE January Daily Technical Review Nov 2nd
Verdict – Short-term neutral. DCE iron ore created doji and rejected by major resistance arround 805.5. Hourly candles are indicating iron ore created an ascending triangle, a short-run bullish pattern. However iron ore needs to confirm breakthrough level 805.5. Otherwise potentially narrowing in smaller range. Hourly MACD is also weakening. Hourly slow stochastic KD is …
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Daily Ferrous Physical Review Nov 2nd
Ferrous Market – Steelbank Inventory: construction steel inventories 5.80 million tonnes, down 8.15% w-o-w. HRC 2.09 million tonnes, down 3.33% w-o-w. – China ferrous physical market rebounded over weekends, coke up 50 yuan as the six round of increase. Eastern steel mills rebar up 50 yuan in Monday morning. Eastern China heavy scrap up 50 …
Iron Ore DCE January Daily Technical Review Oct 30th
Verdict – Short-term neutral. DCE iron ore rebounded during the day, however the daily high failed to break the major resistance at 805.5. If a rejection further at 805.5 would bring iron ore back to consolidation. A breakthrough would lift iron ore to a short-run bullish trend. From hourly chart, slow stochastic KD created gold …
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Daily Ferrous Physical Review Oct 30th
Ferrous Market – MySteel 45 ports iron ore inventories at 127.63 million tonnes, up 3.48 million tonnes w-o-w. Daily evacuation 3.13 million tonnes, up 47,700 tonnes w-o-w. Australia iron ore 60.30 million tonnes, up 1.72 million tonnes w-o-w. Brazil iron ore 39.39 million tonnes, up 2.39 million tonnes w-o-w. 149 ships at ports, down 2. …
Iron Ore DCE January Daily Technical Review Oct 29th
Verdict – Short-term neutral. DCE iron ore corrected slightly and however maintain in a consolidation area as yesterday expected. From hourly chart, slow stochastic and CCI both corrected from the high, indicating the last push was exhausted. In short run, a breakthrough on 788.5 area would bring back a new round of rebound. In mid-run, …
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