Monthly archives: December 2021

Iron Ore DCE May Daily Technical Review 30/12/21

Verdict – Short-term neutral. DCE iron ore May22 contract tested high during Asian morning session and however gave back major gains during the afternoon session. The daily trading volume today and yesterday created the lowest from the previous eight trading days. The candles also indicated current market has no trend in short-run. Hourly MACD weakened …

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Daily Virtual Steel Mill Report 30/12/21

Market Verdict on Iron Ore： • Neutral. Macro • China PM Li Keqiang held general political conference to delay some income tax incentives, equal to 1.1 trillion yuan of tax cut annually. • China proposed to increase the self-sufficiency by 35% in copper, 20% in aluminum. In addition, increase scrap ratio by 30% in steel …

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Daily DCE Review 30/12/21

Iron ore futures rebounded from previous trading day losses, amid slowdown in steel demand and weak market outlook for the new year. The futures of Dalian Commodity Exchange (DCE) for January delivery then inched up by 0.98% day-on-day or up RMB 6.50 to RMB 669.50/mt, during the day trading session on Thursday. The rebar futures, …

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