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Author archives: Hao Pei
Iron Ore DCE Jan Daily Technical Review 1/11/21
Verdict – Short-term neutral to bearish. DCE iron ore Jan contract volatile in narrow range during the day, however saw lower lows and lower highs. Iron ore was running in a descending tunnel. Hourly CCI decreased to the lowest since September 17th. Slow stochastic KD consolidate in netural range. Hourly MACD created dead cross below …
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Daily Virtual Steel Mill Report 1/11/21
Market Verdict on Iron Ore： · Neutral. Macro · China National Bureau of Statistics: China October PMI 49.2, last 49.6, est. 49.7. The second month located in the contraction area. · G20 countries drafted plan will take the maximum efforts to stop new build coal-based electricity power generating program. Iron Ore Key Indicators: · Platts …
Iron Ore DCE Jan Daily Technical Review 29/10/21
Verdict – Short-term neutral to bearish. China thermal coal futures and coking coal futures all reached limit-down which bring back a bearish sentiment on all ferrous market. Iron ore corrected and breakdown important support level around 639.0 – 643.0 and went back to descending tunnel. Hourly MACD widened below 0 axis. Hourly CCI went into …
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Daily Virtual Steel Mill Report 29/10/21
Market Verdict on Iron Ore： · Neutral. Macro · China CCTV news: U.S. trade representative Katherine Tai seek to ease trade relations with China in a U.S. poultry conference. · U.S. Q3 GDP up 2% y-o-y, Q2 up 6.7%. The slowing down on GDP growth rate was far beyond expectation. Iron Ore Key Indicators: · …
Iron Ore DCE Jan Daily Technical Review 28/10/21
Verdict – Short-term neutral. DCE iron ore January contract tested low in Asian morning however recover most of losses during this afternoon. The contract created a monthly low. However the quick rebound on the low indicated iron ore was not ready to test low in following sessions. Hourly KD created gold cross. Hourly CCI went …
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Daily Virtual Steel Mill Report 28/10/21
Market Verdict on Iron Ore： · Neutral. Macro · China PM Liu He had a video conference with U.S. Treasury Secretary Yellen. The conference revealed the expectation on tax exemption. · China state council issued details on emission peak. At the year 2030, China non-fossil energy expecting to reach 25% of whole energy usage. · …
Iron Ore DCE Jan Daily Technical Review 27/10/21
Verdict – Short-term neutral. DCE iron ore January contract tested low in the morning session following the general correction on coal sector. However iron ore went back to its own technical range and became the strongest contract among ferrous complex. Hourly MACD widened above 0 axis. Hourly CCI approached bullish territory. The first support is …
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Daily Virtual Steel Mill Report 27/10/21
Market Verdict on Iron Ore： · Neutral. Macro · China PM Liu He had a video conference with U.S. Treasury Secretary Yellen. The conference revealed the expectation on tax exemption. · China state council issued details on emission peak. At the year 2030, China non-fossil energy expecting to reach 25% of whole energy usage. · …
Weekly Virtual Steel Margin Report 26/10/2021
Market Verdict： – Iron ore short-run neutral to bullish. Macro Market Change and Money Movement: – The correction on both oil and coal symbolized the speculation of energy risk temporarily cooled. The headlines over weekends were contributed by the pilot version of China real estate tax came out. Major macro analysts from Asian based securities …
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