Monthly archives: January 2022

Daily DCE Review 5/1/22

Iron ore futures extended gains upon market optimism of restocking activities for the upcoming Spring festival. The futures of Dalian Commodity Exchange (DCE) for January delivery then hiked up by 2.13% day-on-day or up RMB 14.50 to RMB 694/mt, during the day trading session on Wednesday. The rebar futures also went up by 2.09% day-on-day …

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Iron Ore DCE May Daily Technical Review 5/1/22

Verdict – Short-term neutral. DCE iron ore May22 contract moved up and down in narrow range during the day, however the trading volume was less than half day trading volume compared to previous two trading days. The intra-day high 696.5 became the first resistance. The daily low around 681.0 area also created a short-run support …

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Daily Virtual Steel Mill Report 5/1/22

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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