Market Verdict on Iron Ore： · Neutral to bearish. Macro · U.S. previous week initial jobless claim reached 184,000, created the lowest since the year 1969. Estimated 220,000, last 222,000. · China central bank decided to increase foreign exchange deposit reserve rate from 7% to 9%, to hedge the appreciation risk of Chinese Yuan, CNH …
Author archives: Hao Pei
Iron Ore DCE May Daily Technical Review 09/12/21
Verdict – Short-term neutral to bearish. DCE iron ore May22 contract started a short-run correction after breakdown the import support around 644.0- 645.0. However currently become neutral and in the phase of testing low. A breakdown on 632.0 would indicate a mid-run correction start. Hourly CCI correct fast from bullish territory to bearish territory from …
Continue reading “Iron Ore DCE May Daily Technical Review 09/12/21”
Daily Virtual Steel Mill Report 9/12/21
Market Verdict on Iron Ore： · Neutral. Macro · China PBOC RRR released four positive signals including the stable economy growth, hedge the downside risk of economy, create a beneficial monetary environment for enterprises and indicate a manageable liquidity policy. · The two parties of U.S. reached a consensus to increase the maximum debt ceiling …
Iron Ore DCE May Daily Technical Review 08/12/21
Verdict – Short-term neutral. DCE iron ore May22 contract finally closed 5 yuan slight lower than opening of the day. Daily high and low were 676.0 and 652.5 respectively, which also became the first resistance and support. Hourly CCI started to weaken and diverge with iron ore price since December 6th. Hourly slow stochastic KD …
Continue reading “Iron Ore DCE May Daily Technical Review 08/12/21”
Daily Virtual Steel Mill Report 8/12/21
Market Verdict on Iron Ore： · Neutral. Macro · China PBOC RRR released four positive signals including the stable economy growth, hedge the downside risk of economy, create a beneficial monetary environment for enterprises and indicate a manageable liquidity policy. · The two parties of U.S. reached a consensus to increase the maximum debt ceiling …
FIS Weekly Virtual Steel Margin Report 07/12/2021
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004 US (FL): +1 813 490 6630
Iron Ore DCE May Daily Technical Review 06/12/21
Verdict – Short-term neutral. DCE iron ore May22 contract consolidate during the day. Iron ore tested low and high during previous two trading days from 591.0- 631.0 area. The roof area was created in mid-run as 626.5- 644.0 – 631.0. However the lower support also went higher from mid-run perspective, which finally give the short-run …
Continue reading “Iron Ore DCE May Daily Technical Review 06/12/21”
Daily Virtual Steel Mill Report 6/12/21
Market Verdict on Iron Ore： · Neutral. Macro · China PM Li Keqiang indicated in the conference last Friday that China potentially leverage interest rate decrease policy in different markets to facilitate the healthy environment of investment and liquidity for mid-small enterprises. · China Evergrande Group officially announced the inability to perform its guaranteed liability. …
Iron Ore DCE May Daily Technical Review 03/12/21
Verdict – Short-term neutral. DCE iron ore May22 contract consolidate in a narrower range during the day, however iron ore created a consecutive lower lows and lower highs over the past two trading days. Hourly CCI created a bottom reversal pattern. Hourly slow stochastic KD created gold cross above oversold boundary. Technical signals were indicating …
Continue reading “Iron Ore DCE May Daily Technical Review 03/12/21”
Daily Virtual Steel Mill Report 3/12/21
Market Verdict on Iron Ore： · Neutral. Macro · China automobiles association estimated November China auto sales 2.47 million, up 5.95% m-o-m, down 10.8% y-o-y. · OPEC+ draft indicated January daily production increased by 400,000 barrels. OPEC+ potentially adjust production increase schedule when market changes. Iron Ore Key Indicators: · Platts62 $98.35 (-3.05), MTD 99.88. …