Monthly archives: January 2022

Daily DCE Review 10/1/22

Iron ore futures dropped at the start of second trading week of the new year, as restocking activities slowed down, while rising omicron cases caused panic in the market. The futures of Dalian Commodity Exchange (DCE) for January delivery then fell by 2.03% day-on-day or down RMB 14.50 to RMB 699.50/mt, during the day trading …

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Iron Ore DCE May Daily Technical Review 10/1/22

Verdict – Short-term neutral. DCE iron ore May22 contract corrected during the day. The short-run rebound in the afternoon session was resisted by hourly neckline at 704.5. In mid-run 720-725.5 area created a major resistance area. A further breakdown on 693.0 level would reverse iron ore into bearish trend. CCI entered a neutral area from …

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Daily Virtual Steel Mill Report 10/1/22

Market Verdict on Iron Ore： • Neutral. Macro • U.S. December non-farm payrolls increased by 199,000 new jobs , est. 444,000, last 210,000. The statistic indicated that the Federal commission strengthen the expectation of unwinding the balance sheet and increasing interest rate. • China RCEP hit the ground on January 1st of the year 2022, …

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Morning Oil Report 10/01/22

At 10:13 am Singapore time (0213 GMT), the ICE March Brent futures contract was up 7 cents/b (0.09%) from the previous close at $81.82/b, after falling by close to 50 cents/b earlier in the morning.   China is currently battling another outbreak of COVID-19 infections across several states, with the latest being a cluster in …

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