Monthly archives: July 2022

Iron Ore DCE September Daily Technical Review 01/07/22

Verdict – Short-term neutral to bearish.   DCE iron ore September contract corrected significantly during the day, the low of the day fell on the important resistance at 745.0, which was a Fibonacci number in range 698.5- 822.5. Hourly MACD widened below 0 axis. Hourly slow stochastic KD entered oversold area without seeing signs of …

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Daily Virtual Steel Mill Report 01/07/22

Market Verdict on Iron Ore： • Neutral.   Macro • Opec and Non-Opec oil production countries decided to increase 648,000 barrels of crude oil production in August. • Global central banks revealed that inflation control was the most important thing although the process potentially eliminate the economy growth.   Iron Ore Key Indicators: • Platts62 …

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China June Steel PMI Hits Decade Low Amid High Inventory 01/07/22

China’s steel industry purchasing manager’s index for June hit its lowest level in over a decade, with the government’s pledge to go all-in on infrastructure spending to rescue the economy yet to register with producers. The steel PMI tumbled to 36.2, deep in contraction, with new orders plummeting to 25.9, according to official figures released …

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