Market Verdict on Iron Ore： · Iron ore short-run bearish. Macro · President of Europe Central Bank Largede expected Q2 economy started to rebound in Europe area, and growth rate become stronger in Q3 supported by strong manufacturing industry. Largede expected EU will recover to pre-pandemic economy level in next Q1. Inflation was lower than …
Author archives: Hao Pei
Iron Ore DCE Sep Daily Technical Review 22/7/21
Verdict – Short-term neutral. DCE iron ore September corrected significantly with increasing trading volume. Hourly MACD created dead cross. Hourly slow stochastic KDE created dead cross below overbought area, indicated a market reversal. CCI created a double top area. Technical signals were indicating the correction potentially continues. The first support is 1114.5, the first resistance …
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Daily Virtual Steel Mill Report 22/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · A senior official of the IMF said the global output gap of about $15 trillion caused by the Covid-19 crisis, needed “tough reforms” in product, labor and financial markets. · US Deputy Secretary of state Sherman will visit China from July 25 to …
Iron Ore DCE Sep Daily Technical Review 21/7/21
Verdict – Short-term bearish. DCE iron ore September corrected significantly with increasing trading volume. Hourly MACD created dead cross. Hourly slow stochastic KDE created dead cross below overbought area, indicated a market reversal. CCI created a double top area. Technical signals were indicating the correction potentially continues. The first support is 1152.0, the first resistance …
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Daily Virtual Steel Mill Report 21/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral to bearish. Macro · The Asian Development Bank predicts that China’s economic growth is expected to remain at 8.1% this year and 5.5% in 2022. However, the overall growth expectations of Asian developing economies have been lowered. · The National Development and Reform Commission held …
FIS Weekly Virtual Steel Margin Report 20/07/2021
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Iron Ore DCE Sep Daily Technical Review 19/7/21
Verdict – Short-term neutral. DCE iron ore September tested low at important support area around 1209.0 and bounced back. Hourly slow stochastic KD potential to create gold cross. Hourly MACD potential to flatten below 0 axis. CCI created a rebound from bearish area. Technical signals were indicating neutral. The first support is 1209.0, the first …
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Daily Virtual Steel Mill Report 19/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · The Ministry of industry and information technology will cooperate with relevant departments to ensure the supply and price stability of bulk commodities, coordinate to deal with the risk of market price fluctuation, and resolutely crack down on hoarding, malicious speculation, and bid up …
Daily Virtual Steel Mill Report 16/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China Q2 GDP grew by 7.9% year on year and 18.3% in Q1. In the first half of the year, the GDP was 53216.7 billion yuan, a year-on-year increase of 12.7%, 5.6% lower than that in the first quarter. · In June, the …
Iron Ore DCE Sep Daily Technical Review 15/7/21
Verdict – Short-term neutral. DCE iron ore September rebounded for the fourth day of the week, however the high of the day was still below major resistance level around 1152.0. Hourly MACD flattened. Hourly CCI corrected from the bullish area. Hourly slow stochastic KD rebounded slowly. Technical signals were indicating an exhaustion of the rebound. …
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