Monthly archives: June 2022

Iron Ore DCE September Daily Technical Review 20/06/22

Verdict – Short-term bearish.   Iron ore corrected as expected. September contract reached limit-down at 746.0 in the afternoon session. Iron ore created a normal gap from 775.0 – 790.0 area, a rejection in the gap area in mid-run would confirm another round of correction. However in short-run, as the aggregated open interest reached , …

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Daily Virtual Steel Mill Report 20/06/22

Market Verdict on Iron Ore： • Bearish.   Macro • U.S. Energy Department indicated that U.S. appeal to increase oil production. A tanker carrying 650,000 barrels of Venezuelan crude oil destined Europe . This is the first time that Venezuela, under US sanctions, has exported crude oil to Europe in the past two years. • …

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China’s May Oil Import From Russia Hit Record 20/06/22

China’s May oil imports from Russia soar 55% to a record, surpass Saudi supply   China’s crude oil imports from Russia soared 55% from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier, as refiners cashed in on discounted supplies amid sanctions on Moscow over its invasion of …

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Iron Ore Future Drop To Six-Month Low On Worries About China’s Demand 20/06/22

Iron Ore Plunges Below $120 Amid Fresh Pessimism About Demand   Iron ore has given up all its gains made earlier this year, with fresh demand pessimism triggering Monday’s decline of more than 5% amid reports that blast furnaces are idling plants. The lack of a meaningful buy-side recovery, slow end-user demand and a weak …

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