Market Verdict on Iron Ore： • Neutral to bullish. Macro • China and U.S. held tele-conference to discuss on the cooperation in economy development in future, and noted the tariff exemption to alleviate the inflation in U.S. Iron Ore Key Indicators: • Platts62 $117.95, +6.90, MTD $106.86. The term contract discounts for BHP’s …
Author archives: Hao Pei
China Plans To Issue 1 Trillion Yuan In Loans To Support Property Developers 29/07/22
China targets $148 bln in financing for cash-strapped developers – FT China will help property developers by issuing 1 trillion yuan ($148.2 billion) in loans for stalled developments, the Financial Times said on Thursday, as Beijing tries to revive the debt-stricken sector and relieve pressure on the economy. The People’s Bank of China (PBOC) …
Iron Ore DCE September Daily Technical Review 28/07/22
Verdict – Short-term bullish. DCE iron ore September recovered loss from yesterday and refreshed new high from June 30th with expand volume. The breakthrough on resistance of 822.5 would confirm the price movement remaining strong. Otherwise, rejection would mean a considerable correction because current indicators were showing big volatilities rather than a flat structure. …
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Daily Virtual Steel Mill Report 28/07/22
Market Verdict on Iron Ore： • Neutral to bullish. Macro • U.S. Federal increased 75 basis points in last FOMC to 2.25-2.5%, as expected. • G7 revealed to set up a price-ceiling for Russian oil effective from December 5th. Iron Ore Key Indicators • Platts62 $111.05, -0.65, MTD $106.24. The term contract discounts …
Rio Tinto Inks Deal For Guinea iron ore project 28/07/22
Rio Tinto Inks Deal to Unlock Huge Simandou Iron Ore Project Rio Tinto Group said it’s formed a joint venture with the Guinea government and Winning Consortium Simandou to develop infrastructure including a railway and port, in a breakthrough that should help unlock the world’s biggest untapped iron ore deposit. “The parties will now …
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Iron Ore DCE September Daily Technical Review 27/07/22
Verdict – Short-term neutral. DCE iron ore September failed to break through the concentrated trading level around 750.0 by closing. Thus, iron ore potentially reached periodic high area. Slow stochastic KD created dead cross in overbought area and deepened correction. Hourly CCI created bearish divergence. Hourly MACD potentially creating dead cross. Technical signals were …
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Daily Virtual Steel Mill Report 27/07/22
Market Verdict on Iron Ore： • Neutral to bullish. Macro • IMF decreased global GDP growth in 2022 from 3.6% to 3.2%. • U.S. white house indicated that the country would release 20 million barrels of crude oil supply from its national reserve, 1 million barrels on daily basis. • Chinese Machinery Association statistic …
Iron Ore DCE September Daily Technical Review 26/07/22
Verdict – Short-term neutral to bullish. DCE iron ore September maintained strong as expected. Hourly MACD widened above 0 axis. Hourly CCI stayed in bullish territory. Iron ore hourly candles rebounded following a ladder shaped ascending structure. Short-run technical signals were indicating continuing rebound. The first support is 703.5. The first resistance is …
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Daily Virtual Steel Mill Report 26/07/22
Market Verdict on Iron Ore： • Neutral to bullish. Macro • ECB official Kazaks indicated that the big interest hike expected to continue. • China Industry of Steel Association and India Steel Association held video conference to communicate the future corporation in iron ore and coals. • China Evergrande group, the house developer with …
China Plans To Launch A Real Estate Fund To Support Property Sector 26/07/22
China plans real estate fund worth up to $44 billion for distressed sector, source says China will launch a real estate fund to help property developers resolve a crippling debt crisis, aiming for a warchest of up to 300 billion yuan ($44 billion) in a bid to restore confidence in the industry, according to …
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