Monthly archives: December 2021

Daily DCE Review 16/12/21

Iron ore futures rebounded despite slow steel demand as margins improved, which might result in better restocking activities. The futures of Dalian Commodity Exchange (DCE) for January delivery then jumped by 2.75% day-on-day or up RMB 18 to RMB 673/mt, during the day trading session on Thursday. The rebar futures also went up by 2.44% …

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Iron Ore DCE May Daily Technical Review 16/12/21

Verdict – Short-term neutral. DCE iron ore May22 contract created big rebound during the day, however rejected by 675.0-677.0 area by the third time. Iron ore in short-run was close to the end of an ascending triangle pattern. A further rejection on major resistance would exhaust the motive of rebound and bring iron ore back …

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Daily Virtual Steel Mill Report 16/12/21

Market Verdict on Iron Ore： • Neutral. Macro • U.S. FOMC decided maintain the interest rate range at 0-0.25%, which fell in the expectation of market. Federal accelerate the Taper and decrease 30 billion U.S. dollars equivalent debt purchases each month, previous decrease by 150 billion dollars. The FOMC matrix indicated that commissioners expected three …

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Morning Oil Report 16/12/21

At 10:19 am Singapore time (0219 GMT), the ICE February Brent futures contract was up 58 cents/b (0.79%) from the previous close at $74.46/b, while the NYMEX January light sweet crude contract rose 70 cents/b (0.99%) to $71.57/b.   EIA Crude oil: -4.6M SPR: -2.0M Gasoline: -0.7M Distillates: -2.9M   Oil prices were also drawing …

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