Market Verdict on Iron Ore： · Neutral to bullish. Macro · IMF indicated that supply chain disrupt potentially extend the expectation of inflation in some places of the world. · Major economies government revealed that they are currently researching on release crude oil. Previously U.S. indicated to coordinate to cool down global energy prices. Iron …
Author archives: Hao Pei
Iron Ore DCE Jan Daily Technical Review 18/11/21
Verdict – Short-term neutral. DCE iron ore Jan22 started to consolidate weakly after refreshed listed low during today. Major previous support become resistance at 531.0 level after breakdown. Hourly slow stochastic KD retreated to bearish territory. Hourly MACD deepened below 0 axis. Short-run signals were indicating a neutral sentiment in this market. The first support …
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Daily Virtual Steel Mill Report 18/11/21
Market Verdict on Iron Ore： · Neutral. Macro · Reuters: Biden government seek the top oil producing countries to release some crude oil reserves to help decrease oil price and stimulate economy booming. Iron Ore Key Indicators: · Platts62 $89.95, -0.45, MTD $93.45. Iron ore seaborne market gradually return stable during the week, as several …
Iron Ore DCE Jan Daily Technical Review 17/11/21
Verdict – Short-term neutral. DCE iron ore Jan22 consolidated in narrow range for the previous 11 trading days. Hourly MACD potentially create a gold cross below 0 axis. Hourly slow stochastic KD rebounded. The market has significant support arround 530.0 area. Short-run a push with volume potenially trigger a big round of oversold rebound. 5 …
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Daily Virtual Steel Mill Report 17/11/21
Market Verdict on Iron Ore： · Neutral. Macro · European statistic bureau: 19 member countries at Euro Zone economy growth rate up 3.75 compared to Q3 of last year, indicated a strong recover after the pandemic. · China and U.S. internet conference revealed a friendly signal of the trades and relations between the two countries …
Weekly Virtual Steel Margin Report 16/11/21
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Iron Ore DCE Jan Daily Technical Review 15/11/21
Verdict – Short-term neutral. DCE iron ore Jan22 created a doji during the day with no significant direction. Short-run resistance fell on 560.0 – 561.0 area. Short-run support on 532.0 area which created a very fast rebound. Houlry MACD exhausted above 0 axis and became neutral. Hourly CCI fell to bearish boundary. Short-run technicals …
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Daily Virtual Steel Mill Report 15/11/21
Market Verdict on Iron Ore： · Neutral. Macro · China Ministry of Foreign Affairs spokesperson Hua Chunying announced that China Chairman Xi will hold a internet conference with U.S. president Biden. Market understand as a step forward and ease of the two countries. · 21 China cities published a price floor on houses to avoid …
Iron Ore DCE Jan Daily Technical Review 12/11/21
Verdict – Short-term neutral. DCE iron ore Jan22 gave back most of gains created by yesterday, and returned to a narrower consolidation range. The intra-day low was higher than last low, as well as the afternoon trading volume on Jan22 contract was extremely small compared to previous days of the week, which indicated market was …
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Daily Virtual Steel Mill Report 12/11/21
Market Verdict on Iron Ore： · Neutral. Macro · The European Commission raised its inflation outlook for the euro area this year and next year, which is expected to be 2.4% and 2.2% respectively, but it is expected that inflation in the euro area will slow significantly to 1.4% in 2023, lower than the 2% …