Market Verdict on Iron Ore： · Iron ore short-run bearish. Macro · China May electricity consumption maintained a high growth rate by 12.5% y-o-y, up 18.7% m-o-m. Jan-May total electricity consumption accumulated at 3.23 trillion KWH, up 17.7% y-o-y. However China major southern industry city Guangzhou electricity consumption reached 11.2 billion KWH, a historical high …
Author archives: Hao Pei
FIS Weekly Virtual Steel Margin Report 15/6/2021
Market Verdict： – Iron ore neutral. Macro Market Change and Money Movement: – China commodity market experienced an interest shift from agricultural sector to industrial sector from last Thursday to this Tuesday, contributed by the strong performance of coking coal and iron ore. – The G7 conference yet to mention any detail on the solution …
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Daily Virtual Steel Mill Report 11/6/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · U.S. May CPI up 5% y-o-y, created the biggest single month increase during the past 13 years. Because the economy boost stimulate the travel services and second-hand automobile price. The strong data partially due to the soft economic data base in last year …
Iron Ore DCE Sep Daily Technical Review 10/6/21
Verdict – Short-term neutral. DCE iron ore September contract resisted by 1191.5-1197.0 area again, which was also predicted from yesterday. Thus price movement was rejected by major resistance and went back to consolidation in narrower range. Hourly MACD narrowed. Hourly slow stochastic KD deepened the correction after created a dead cross. Hourly CCI tested low …
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Daily Virtual Steel Mill Report 10/6/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · On June 9, the National Development of Reform Commission held a forum, proposing to closely track the trend of commodity prices, including price forecasting and early warning, further understanding the operation of relevant market entities, figure out the clues of illegal price increases, …
Iron Ore DCE Sep Daily Technical Review 9/6/21
Verdict – Short-term neutral. DCE iron ore September contract spiked during the last night session, however resisted below 1191.5-1197.0 area. The lower side 1148.5 also provide very strong support in mid-run. Hourly candles chart entered a consolidating mode. Hourly CCI pulled back from bullish territory. Hourly slow stochastic KD potentially create dead cross below overbought …
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Daily Virtual Steel Mill Report 9/6/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China May CPI 1.3%, est. 1.6%, last 0.9%. China May PPI up 9%, est. 8.3%, last 6.8%. · World Bank published Global Economic Outlook, adjusted the year 2021 economy growth rate from 4% to 5.6%. China economy growth rate in 2021 from 7.9% …
FIS Weekly Virtual Steel Margin Report 08/06/21
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Iron Ore DCE Sep Daily Technical Review 7/6/21
Verdict – Short-term neutral to bearish. DCE iron ore September contract test low as expected from last Friday. The correction ended mid-run rebound. Hourly candles created a clear multiple top area, which was normally a reversal and bearish signal. The neckline at 1148.5, created very strong resistance. The intra-day support at 1115.5 was the major …
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Daily Virtual Steel Mill Report 7/6/21
Market Verdict on Iron Ore： · Iron ore short-run neutral to bearish. Macro · China will rely on step-by-step measures to slow the appreciation of the yuan, to restrict speculators and help local exporters avoid tough measures that may impede its goal of liberalizing the yuan and enhancing its global influence. The people’s Bank of …