FIS API Blog
Iron Ore Rebounds After Xi Pledges to Meet Economic Growth Goal Iron ore advanced from its lowest close in more than six months after President Xi Jinping pledged to achieve economic goals for the year, despite pandemic and property headwinds. China’s leader re-iterated the country’s “social and economic development targets” at a business forum …
Continue reading “Iron Ore Rebounded After Xi Pledged To Achieve Economic Goals 24/06/22”
Verdict – Short-term neutral. DCE iron ore September contract terminated previous 12-day loss by 26.32% since June 7th. However it is worth noting that the daily rebound yet to recover the last single day slump yesterday . The recent mid-run resistance at 790.5 yuan, which was the upper bound of previous gap. 728.5 shift …
Continue reading “Iron Ore DCE September Daily Technical Review 23/06/22”
Market Verdict on Iron Ore： • Neutral. Macro • U.K. May CPI up 9.1%, est. 9.1%, refreshed the highest since 1982. May CPI up 0.7% from April. Iron Ore Key Indicators: • Platts62 $109.40, -6.50, MTD $133.82. Float base iron ore premium dropped massively from $2.8 to $0.45 over the last ten trading …
Russia seeks new fuel markets in Africa, Middle East as Europe turns away Russia is increasing gasoline and naphtha supplies to Africa and the Middle East as it struggles to sell fuel in Europe, while Asia is already taking bigger volumes of Russian crude, Refinitiv Eikon data showed and sources said. The development is …
Continue reading “Russia Eyes Africa And Middle East As New Fuel Markets 23/06/22”
Verdict – Short-term bearish. DCE iron ore September contract slumped during the day, the contract refreshed the biggest single week drop at 13.63% from September 2021. However, it is worth noting that iron ore also created three-year high open interest level at 1.3 million lots, indicating the current bearish trend was driven by new sellers. …
Continue reading “Iron Ore DCE September Daily Technical Review 22/06/22”
Verdict – Short-term neutral. DCE iron ore September contract terminated the consecutive eight corrective trading days and closed with the first white candle today. The price movement potentially keep in the higher and lower of the day in the next few trading days if volume start to decrease. The long position would need to …
Continue reading “Iron Ore DCE September Daily Technical Review 21/06/22”
Market Verdict on Iron Ore： • Neutral. Macro • President of the Cleveland Federal Reserve Bank said that it would take two years for the inflation rate to fall to the Fed’s target of 2%, adding that the inflation rate would gradually “move down” from the current level. • The United States is considering …
Verdict – Short-term bearish. Iron ore corrected as expected. September contract reached limit-down at 746.0 in the afternoon session. Iron ore created a normal gap from 775.0 – 790.0 area, a rejection in the gap area in mid-run would confirm another round of correction. However in short-run, as the aggregated open interest reached , …
Continue reading “Iron Ore DCE September Daily Technical Review 20/06/22”
Market Verdict on Iron Ore： • Bearish. Macro • U.S. Energy Department indicated that U.S. appeal to increase oil production. A tanker carrying 650,000 barrels of Venezuelan crude oil destined Europe . This is the first time that Venezuela, under US sanctions, has exported crude oil to Europe in the past two years. • …
China’s May oil imports from Russia soar 55% to a record, surpass Saudi supply China’s crude oil imports from Russia soared 55% from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier, as refiners cashed in on discounted supplies amid sanctions on Moscow over its invasion of …
Continue reading “China’s May Oil Import From Russia Hit Record 20/06/22”
