Monthly archives: August 2022

Iron Ore DCE January Daily Technical Review 29/08/22

Verdict – Short-term neutral.   DCE iron ore January contract retreated with expanding volume, however the closing was higher than last trading day. The decrease in open interest indicated both previous buyers and sellers were leaving the market. The short-run high was confirmed at 736.5 area. Hourly CCI saw a rebound during last hour, along …

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Daily Virtual Steel Mill Report 29/08/22

Market Verdict on Iron Ore： • Neutral.   Macro • U.S. central PCE increased 4.6% year-on-year, est. 4.7%, last 4.8%, refreshed the lowest since February 2021. • Jan- July above designated industrial value added amount at 4.89 trillion yuan, down 1.1% on the year.   Iron Ore Key Indicators: • Platts62 $105.80, +3.55, MTD $105.49. …

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U.S. Pushes For Restraint On Fuel Exports 29/08/22

President Joe Biden’s administration is pressing US refiners to rebuild inventories of gasoline and diesel as the production-disrupting Atlantic hurricane season heats up, rather than increasing record-high volumes of product exports.   US energy secretary Jennifer Granholm, in a letter sent to refiners on 18 August, said historically low inventories of gasoline and diesel posed …

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