Monthly archives: August 2022

Iron Ore DCE January Daily Technical Review 11/08/22

Verdict – Short-term neutral.   DCE iron ore January contract created roof area from 745.0 – 755.0, as intra-day high rejected by this area. Thus, iron ore was still in bearish territory. Hourly slow stochastic KD created a bearish divergence with hourly candles movement. Hourly CCI returned to bullish territory. Short-run signals were indicating a …

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Daily Virtual Steel Mill Report 11/08/22

Market Verdict on Iron Ore： • Neutral.   Macro • U.S. July CPI up 8.5%, last 9.1%, est. 8.7%. China July CPI up 2.7 on the year, last 2.5%, est. 2.9%. • Chinese machinery sales in July turned from negative to positive, ended a negative number last for previous 14 months. Jan – Jul machinery …

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U.S. Crude Production Hit New High Since April 2020 11/08/22

U.S. crude stocks up, output at highest level since April 2020   U.S. crude stocks rose in the most recent week while U.S. production hit its highest level since April 2020, a signal that high prices are driving further output in the world’s largest oil producer. Gasoline stocks fell sharply and demand rebounded modestly, though …

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