Metals, Ores, and Mining Firms, Mint Finance

Pranay Yadav

Metals, Ores, and Mining Firms

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Commodities

<ul>
<li>SGX Iron Ore futures surged by $10.24/ton to $102.09/ton last week, hitting the highest level since July, driven by China’s stimulus announcement.</li>
<li>A bullish technical signal emerged as the 9-day moving average crossed over the 21-day, yet RSI overbought levels (72.35) suggest a potential correction.</li>
<li>Trading volume spiked mid-week but thinned near $105/ton, indicating waning volume above $100/ton and setting up volatility for a short-term price drop.</li>
</ul>


SGX Iron Ore futures surged by $10.24/ton to $102.09/ton last week, hitting the highest level since July, driven by China’s stimulus announcement.
A bullish technical signal emerged as the 9-day moving average crossed over the 21-day, yet RSI overbought levels (72.35) suggest a potential correction.
Trading volume spiked mid-week but thinned near $105/ton, indicating waning volume above $100/ton and setting up volatility for a short-term price drop.


[IO Technicals Weekly 2024/​39] Iron Ore Surges on China Stimulus

<ul>
<li>SGX Iron Ore futures closed the week $1.38 lower, with wide trading range of $5.85/ton in a week filled with economic releases including FOMC and PBoC rate decisions.</li>
<li>Momentum indicators are neutral; RSI at 37.70 signals potential upside, while the price remains below key moving averages, including the 9, 21, 50, 100, and 200-day SMAs.</li>
<li>Prices broke below key volume profile support at $91.27 and may see a short-term rebound to $90/ton due to limited trading volume below this level.</li>
</ul>


SGX Iron Ore futures closed the week $1.38 lower, with wide trading range of $5.85/ton in a week filled with economic releases including FOMC and PBoC rate decisions.
Momentum indicators are neutral; RSI at 37.70 signals potential upside, while the price remains below key moving averages, including the 9, 21, 50, 100, and 200-day SMAs.
Prices broke below key volume profile support at $91.27 and may see a short-term rebound to $90/ton due to limited trading volume below this level.


[IO Technicals Weekly 2024/​38] Iron Ore Falls Below Key Support Level Amid Weak Fundamentals

Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

Equity, Bottom-up Analyst

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

<ul>
<li>Iron underperformed the commodity complex, falling 1.2% WoW, vs the average complex performance of 3% WoW. </li>
<li>PBOC rate cuts have yet to spur borrowing significantly. Despite the seasonal uptick, loan growth has trended negatively.  </li>
<li>We remain cautious till China shows any sign of a pick-up in demand. Indicators like mill margins and property/auto demand continue to be uninspiring. </li>
</ul>


Iron underperformed the commodity complex, falling 1.2% WoW, vs the average complex performance of 3% WoW. 
PBOC rate cuts have yet to spur borrowing significantly. Despite the seasonal uptick, loan growth has trended negatively.  
We remain cautious till China shows any sign of a pick-up in demand. Indicators like mill margins and property/auto demand continue to be uninspiring. 


Iron Ore Tracker (23-Sep-2024): Liquidity in China Provides Relief, Still Bearish Short-Term

<ul>
<li>SGX Iron Ore futures closed 55 cents higher at $92.80/ton, after fluctuating between a $95.55/ton high and $89.60/ton low.</li>
<li>Short-Term technicals reveal bearishness as the 9-day moving average fell below the 21-day, triggering a death cross signal.</li>
<li>Iron ore prices failed to sustain a 50% Fibonacci retracement level, indicating weak market support amid poor fundamentals.</li>
</ul>


SGX Iron Ore futures closed 55 cents higher at $92.80/ton, after fluctuating between a $95.55/ton high and $89.60/ton low.
Short-Term technicals reveal bearishness as the 9-day moving average fell below the 21-day, triggering a death cross signal.
Iron ore prices failed to sustain a 50% Fibonacci retracement level, indicating weak market support amid poor fundamentals.


[IO Technicals Weekly 2024/​37] Volatility Eases as IO Trades At Support Level

<ul>
<li>China's industrial production grew 4.5% YoY in August, missing the 4.7% forecast and marking the slowest growth since March.</li>
<li>Property investment fell 10.2% YoY YTD, with house prices declining 5.3% YoY, the steepest since 2015.</li>
<li>Iron ore imports dropped 1.38% MoM as port inventories rose continued rising into September. Typhoon Bebinca disruptions may drive inventory drawdown in coming weeks.</li>
</ul>


China's industrial production grew 4.5% YoY in August, missing the 4.7% forecast and marking the slowest growth since March.
Property investment fell 10.2% YoY YTD, with house prices declining 5.3% YoY, the steepest since 2015.
Iron ore imports dropped 1.38% MoM as port inventories rose continued rising into September. Typhoon Bebinca disruptions may drive inventory drawdown in coming weeks.


[IO Fundamentals Weekly 2024/37] China’s Housing Crisis Intensifies, Clouding IO Recovery Outlook

Australia

Iron ores are rocks and minerals from which metallic iron can be economically extracted. The ores are usually rich in iron oxides and vary in color from dark grey, bright yellow, deep purple, to rusty red. The iron itself is usually found in the form of magnetite (Fe3O4, 72.4% Fe), hematite (Fe2O3, 69.9% Fe), goethite (FeO(OH), 62.9% Fe), limonite (FeO(OH).n(H2O)) or siderite (FeCO3, 48.2% Fe).

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Iron Ore (IRON ORE COMDTY)

[IO Technicals Weekly 2024/39] Iron Ore Surges on China Stimulus

China's largest stimulus since the pandemic pushed SGX Iron Ore Futures to new highs last week, however technical indicators highlighting...

Mint Finance

[IO Technicals Weekly 2024/38] Iron Ore Falls Below Key Support Level Amid Weak Fundamentals

IO started the week below key support levels, extending last week's decline. Weak fundamentals indicate further downside but neutral momentum...

Mint Finance

Iron Ore Tracker (23-Sep-2024): Liquidity in China Provides Relief, Still Bearish Short-Term

With iron ore prices breaking below 95 USD/ton, we become more bearish in the short term. We track indicators like mill margins, inventories, and...

Sameer Taneja

[IO Technicals Weekly 2024/37] Volatility Eases as IO Trades At Support Level

SGX Iron Ore futures closed nearly flat last week, as technical indicators signal bearish momentum. Broader market sentiment and weak fundamentals...

Mint Finance

[IO Fundamentals Weekly 2024/37] China’s Housing Crisis Intensifies, Clouding IO Recovery Outlook

China's economic struggles intensify as industrial production and property markets falter. Declining steel demand, rising inventories and weak...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[IO Technicals Weekly 2024/​39] Iron Ore Surges on China Stimulus

China's largest stimulus since the pandemic pushed SGX Iron Ore Futures to new highs last week, however technical indicators highlighting...

Mint Finance

[IO Technicals Weekly 2024/​38] Iron Ore Falls Below Key Support Level Amid Weak Fundamentals

IO started the week below key support levels, extending last week's decline. Weak fundamentals indicate further downside but neutral momentum...

Mint Finance

Iron Ore Tracker (23-Sep-2024): Liquidity in China Provides Relief, Still Bearish Short-Term

With iron ore prices breaking below 95 USD/ton, we become more bearish in the short term. We track indicators like mill margins, inventories, and...

Sameer Taneja

[IO Technicals Weekly 2024/​37] Volatility Eases as IO Trades At Support Level

SGX Iron Ore futures closed nearly flat last week, as technical indicators signal bearish momentum. Broader market sentiment and weak fundamentals...

Mint Finance

[IO Fundamentals Weekly 2024/37] China’s Housing Crisis Intensifies, Clouding IO Recovery Outlook

China's economic struggles intensify as industrial production and property markets falter. Declining steel demand, rising inventories and weak...

Mint Finance

[IO Technicals Weekly 2024/39] Iron Ore Surges on China Stimulus

[IO Technicals Weekly 2024/38] Iron Ore Falls Below Key Support Level Amid Weak Fundamentals

[IO Technicals Weekly 2024/37] Volatility Eases as IO Trades At Support Level