Market Verdict on Iron Ore： • Neutral. Macro • G7 countries refused to pay Russian gas in Rubles. • OPEC+ indicated that they will maintain moderate increase on production. Iron Ore Key Indicators: • Platts62 $152.40, +1.60, MTD $149.99. Iron ore portside and seaborne both saw much higher offers on last Friday as trade sources …
Author archives: Hao Pei
Iron Ore DCE September Daily Technical Review 28/3/22
Verdict – Short-term neutral. DCE iron ore Sep22 contract rebounded as expected last Friday. However the verdict changed to neutral during the last few hours after seeing exhaustions on multiple signals. The intra-day trading volume expanded with slight decreased open interest. Hourly CCI correct from the bullish territory to neutral area. Hourly MACD narrowed above …
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Daily Virtual Steel Mill Report 28/3/22
Market Verdict on Iron Ore： • Neutral. Macro • German February PPI increased by 25.9% y-o-y, created the fastest growth from the year 1949, due to the massive increase on energy prices. Iron Ore Key Indicators: • Platts62 $150.80 (+4.45), MTD 149.86. Iron ore portside and seaborne both saw much higher offers on …
Iron Ore DCE September Daily Technical Review 25/3/22
Verdict – Short-term neutral to bull. DCE iron ore Sep22 contract rebounded massively after rolling from May22, and become the major contract during the day. Hourly chart of MACD widened above 0 axis. Hourly slow stochastic KD reached over bought area. Hourly CCI stablised above 100 level. The first support is 834.5,the first resistance is …
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Daily Virtual Steel Mill Report 25/3/22
Market Verdict on Iron Ore： • Neutral. Macro • European gas prices soared 34%. Earlier, Putin said that the supply of natural gas to European countries would be settled in rubles. • The United Nations Conference on Trade and Development expected that the prospects for global economic growth will deteriorate this year. The report shows …
Iron Ore DCE May Daily Technical Review 24/3/22
Verdict – Short-term neutral. DCE iron ore May22 contract corrected slightly during the day. Hourly slow stochastic KD created the second dead cross near overbought area after the first one created this morning. Hourly CCI created bearish divergence and breakdown 100 during the first hourly of this morning. Short-run technical signals are indicating an exhaustion …
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Daily Virtual Steel Mill Report 24/3/22
Market Verdict on Iron Ore： • Neutral. Macro • European gas prices soared 34%. Earlier, Putin said that the supply of natural gas to European countries would be settled in rubles. • China machinery excavators March sales number reached 40,000, down 49% y-o-y, down 36% compared with February. • The office of the U.S. …
Daily Virtual Steel Mill Report 23/3/22
Market Verdict on Iron Ore： • Neutral. Macro • China NDRC and NEA(National Energy Administration) planned to reach 4.6 billion tons equivalent of sta • On March 22, Chinese National Development and Reform Commission and the National Energy Administration issued the “14th five year plan” for modern energy system. By 2025, the annual comprehensive …
Daily Virtual Steel Mill Report 22/3/22
Market Verdict on Iron Ore： • Neutral. Macro • China PM Li Keqiang held a conference to enhance tax return and tax exemption policy to support economy growth. • European Central Bank Committee Olli Rehn indicated that central bank potential start interest rate increase by the end of this year or the beginning of …
Iron Ore DCE May Daily Technical Review 22/3/22
Verdict – Short-term bearish. DCE iron ore May22 contract slumped during the last two hours and created a mid-run roof areas. If a rejection on 810 – 813.0 while next rebound would generally mean iron ore re-entered a bearish trend. All support above 740.5 are believed as weak support. Hourly stochastic KD has created bearish …
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