FIS API Blog
China Studies Ending Australia Coal Ban on Supply Fear Chinese bureaucrats studying the energy outlook are proposing to end a near two-year ban on Australian coal as tensions begin to ease and on concerns supply may tighten when Western-led sanctions on Russian energy kick in. The proposal will be submitted to senior leaders, with …
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Iron Ore Under Pressure as China Property Contagion Fears Rise Iron ore stayed around $100 a ton after sinking Thursday, with the steep drop triggered by long-term pressures on China’s steel industry and homebuyers there boycotting mortgage payments, roiling the property market. Futures plunged almost 8% in Singapore Thursday to the lowest since late …
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Verdict – Short-term neutral to bearish. DCE iron ore September closes lower than yesterday, however settlement price was slightly higher than yesterday. Iron ore prices was snapped by the significant new sellers entering during the last ten minutes. Intra-day correction tested strong support around 603 – 703.5. A breakdown on this area would potentially …
Continue reading “Iron Ore DCE September Daily Technical Review 14/07/22”
Market Verdict on Iron Ore： • Neutral. Macro • U.S. CPI refreshed 40 -year-high at 9.1%, last 8.6%, est. 8.8%. However U.S. president Joseph Biden believed that the oil price has fallen recently, which yet to reflect in the inflation statistics. • Goldman Sachs expected copper average price at $6700/mt, $7600/mt and $9000/mt in …
Verdict – Short-term neutral. DCE iron ore September slumped yesterday however recovered most losses during the day. Thus, maintain neutral in short-run. The effective support area range from 693.0 – 703.5 have created four reversals within the previous four weeks. The resistance in 786.0 was strong as well, which used to be the upper …
Continue reading “Iron Ore DCE September Daily Technical Review 13/07/22”
Market Verdict on Iron Ore： • Neutral. Macro • OPEC: Global oil supply tension yet to resolve. OPEC expected oil demand increase by 2.7 million barrels/day in 2023, with total demand at 30.10 million barrels, up 900,000 barrels/day from 2022. • Goldman Sachs expected copper average price at $6700/mt, $7600/mt and $9000/mt in the …
Market Verdict on Iron Ore： • Neutral. Macro • Chinese M2 supply up 11.4% in June, last 11.1%, est. 11.1%, beyond expectations. • The Nord Stream I natural gas pipeline, Russia’s main gas pipeline to Europe, has begun annual maintenance and suspended gas transmission. Iron Ore Key Indicators: • Chinese steel mills expected …
Verdict – Short-term neutral. DCE iron ore September retreated following the general correction of commodities, however return to its independent logic in the last trading hour and recovered some losses. Iron ore gained support on 722.5 area, which became the first support. Hourly slow stochastic KD potentially create gold cross above overbought area. Hourly …
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Market Verdict on Iron Ore： • Neutral. Macro • Chinese CPI in June up 2.5%, up 0.4% from May, refreshed the highest since August. PPI up 6.1% in June, down 0.3% from May, created eight months consecutive drop. • U.S. strong June job statistic supported the 75 basis points of interest rate increase in …
Iron Ore Extends Losses as Shanghai Outbreak Spurs Demand Fears Iron ore dropped again after a weekly decline as new virus flare-ups in China hurt the demand outlook. Prices of the steel-making material have plunged by about a third in the past four months in Singapore. They are under renewed pressure after Covid-19 cases …
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