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. …
Author archives: Hao Pei
Iron Ore DCE May Daily Technical Review 02/12/21
Verdict – Short-term neutral. DCE iron ore May22 contract created a 25.78% growth counted from the low of Nov 19th to the high of Dec 2nd. However iron ore dumped during the last hour with expanding volume compared to previous afternoon session. A recovery on 644.0 would only bring iron ore to a slow growth …
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Daily Virtual Steel Mill Report 2/12/21
Market Verdict on Iron Ore： · Neutral to bullish. Macro · OECD change the global economy growth rate prediction from 5.7% to 5.6%. In addition, OECD also decrease the growth outlook in U.S. and Euro zone this year and next year. · Fed Beige Book: in October and early November, economic activity in most fed …
Iron Ore DCE Jan Daily Technical Review 25/11/21
Verdict – Short-term neutral. DCE iron ore Jan22 maintained bullish from last night session however retreated during the Asian day session. Iron ore aggregated open interest also narrowed for the two consecutive trading days. Hourly slow stochastic KD created dead cross in overbought area. Hourly CCI retreated to neutral area from a previous bullish territory. …
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Daily Virtual Steel Mill Report 25/11/21
Market Verdict on Iron Ore： · Neutral. Macro · China PM Li Keqiang and state council held a conference request to accelerate issuance of specialized debts in the coming year. · U.S. FOMC notes revealed a flexible date on the interest rate raise. · Indonesia president indicated the country potential stop exporting in the year …
Iron Ore DCE Jan Daily Technical Review 24/11/21
Verdict – Short-term bullish. DCE iron ore Jan22 maintained strong rebound during the day. Iron ore aggregated open interest decreased by 12.43%, this decrease was majorly caused by a taking gains from previous short-positions. Hourly CCI maintained in bullish territory. Hourly slow stochastic KD maintained in bullish territory. Short-run technical were indicating a bullish in …
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Daily Virtual Steel Mill Report 24/11/21
Market Verdict on Iron Ore： · Neutral to bullish. Macro · U.S. white house announced that the energy department will release 5,000 barrels of crude oil from Special Petroleum Reserve to resist oil price and resolve the supply disruption caused by pandemic. Iron Ore Key Indicators: · Platts 62%: $99.45 (+4.75) MTD $93.38. SGX and …
Weekly Virtual Steel Margin Report 23/11/2021
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Iron Ore DCE Jan Daily Technical Review 22/11/21
Verdict – Short-term bullish. DCE iron ore maitained a rebound for the second trading day, with improving volume compared to the first half of last week. The rebound was majorly contributed by short covering. A breakthrough on 579.5 would bring iron ore to a mid-run rebound, otherwise iron ore remain in consolidation range. Hourly CCI …
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Daily Virtual Steel Mill Report 22/11/21
Market Verdict on Iron Ore： · Neutral to bullish. Macro · China PM Li Keqiang held economy conference last Friday emphasizing the practical actions to promote healthy economy and decrease the cost pressure on mid and small capital companies from upstream commodities. · China Vice PM Liu He said in a manufacturing conference that financial …