Market Verdict on Iron Ore： • Neutral. Macro • World Bank decreased global economy growth rate by 1/3 to 2.9%. The institute indicated that the growth rate in 2023 and 2024 potentially stay on this level. • Russia is recovering oil export from the port Kozmino by 20%, to satisfy demand from Asian buyers …
Author archives: Hao Pei
Iron Ore Physical Trade Summary 07/06/22
1. GO traded 90kt JMBF at AM62 July Index -$9.3, loading July 11- 20th
Iron Ore DCE September Daily Technical Review 07/06/22
Verdict – Short-term neutral to bearish. As expected from previous technical report, DCE iron ore September contract test high and corrected back after rejected by last high at 948.0. The return to bull needs to see changing hands, because aggregated open interested has reached the two-year high, indicating new long positions need to confirm …
Continue reading “Iron Ore DCE September Daily Technical Review 07/06/22”
Daily Virtual Steel Mill Report 07/06/22
Market Verdict on Iron Ore： • Neutral. Macro • Global May PMI 53.5%, up 0.3% from April, terminated the two consecutive decrease on monthly basis. • BOFA predicted that ECB rate hike by 150 bps, including 50 bps increase in both July and September. Previous prediction was 100 bps hike. Iron Ore Key …
Iron Ore Physical Trade Summary 06/06/22
1. Corex traded 80kt Fe56.7% Yandi Fines at AM July Index +$1.10, July loading. 2. Corex traded 120kt IOCJ at $168.2, bill of lading May 31st.
Iron Ore DCE September Daily Technical Review 06/06/22
Verdict – Short-term neutral to bearish. DCE iron ore September contract reversed after refreshing listed high at 948.0 and gave back all gains created during the day. The return to bull needs to see changing hands, because aggregated open interested has reached the two-year high, indicating new long positions need to confirm a short-run …
Continue reading “Iron Ore DCE September Daily Technical Review 06/06/22”
Daily Virtual Steel Mill Report 06/06/22
Market Verdict on Iron Ore： • Neutral to bullish. Macro • China Auto Sales recover significantly in May. According to China Automobile Association statistics, China may vehicle sales 1.76 million units, up 49.59% from April, down 17.06% y-o-y. China January to May sales 9.45 million units, down 13.11% y-o-y. • Russia announced that the …
Saudis Raise Oil Prices More Than Expected For Asian Markets 06/06/22
Saudis Raise Oil Prices More Than Expected Amid Asia Rebound Saudi Arabia raised oil prices for its biggest market of Asia by more than expected as the region’s main economies ease coronavirus restrictions, helping boost demand. The increase for July shipments resumes a streak of hikes that started in February and was only broken when …
Continue reading “Saudis Raise Oil Prices More Than Expected For Asian Markets 06/06/22”
Iron Ore Physical Trade Summary 02/06/22
1. GO traded 80kt PBL at Platts July Fe62% Index + $2.3, loading July 5- 14th
Daily Virtual Steel Mill Report 02/06/22
Market Verdict on Iron Ore： • Neutral to bullish. Macro • China Automobile Association suggested that the 50% cut on vehicle purchase tax would increase 2 million sales units, equal to 300 – 350 billion yuan. • EU sets harshest Russian sanctions targeting oil and insurance. Iron Ore Key Indicators: • Platts62 $136.55, …