Author archives: Hao Pei

Daily Virtual Steel Mill Report 19/5/21

Market Verdict on Iron Ore： ·         Iron ore short-run neutral to bearish.   Macro ·         On May 18, China’s National Development and Reform Commission(NDRC) held a regular press conference: the NDRC and the General Administration of Market Supervision are jointly investigating the market conditions of steel and iron ore. “We will accelerate the construction of …

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Iron Ore DCE Sep Daily Technical Review 17/5/21

Verdict – Short-term neutral. DCE iron ore September contract maintained consolidation in narrow range during the day, with 1214 as upper bound and 1166 as the lower bound. Volume narrowed consecutively during the trading day. Hourly CCI rebounded. Hourly MACD potentially create gold cross. However as the first day after a two day huge correction, …

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Daily Virtual Steel Mill Report 17/5/21

Market Verdict on Iron Ore： ·         Iron ore short-run neutral. Macro ·         China National Bureau of Statistics: Jan-Apr electric power generation 2.53 trillion kwh, up 16.8% y-o-y, up 10.9% compared to the year 2019. ·         China April above scale industry realised added value growth rate 9.8%, last 14.1%, est. 9.8%. ·         Jan -Apr, China National …

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Daily Virtual Steel Mill Report 14/5/21

Market Verdict on Iron Ore： ·         Iron ore short-run bearish.   Macro ·         U.S. president Biden made a concession on the infrastructure investment on 200 million dollars proposed previously. ·         U.S. April PPI up 6.2% y-o-y, created the biggest increase from the year 2010, est. 5.8%. ·         Tangshan Market Regulation Bureau, National Development and Reform …

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Iron Ore DCE Sep Daily Technical Review 13/5/21

Verdict – Short-term bearish. DCE iron ore September contract continued correction, with a further correction expectation in next trading day. Hourly stochastic KD slumped after a dead cross in the first hourly of DCE night session yesterday. Hourly CCI however finally flattened after created a year-low level. Hourly candles filled the previous gap created after …

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Daily Virtual Steel Mill Report 13/5/21

Market Verdict on Iron Ore： ·         Iron ore short-run market bearish. Macro ·         China PM Li, Keqiang requested to follow the onshore commodity relation with offshore commodity, to resolve the quick increase of commodity price. Strengthen currency policy and keep economy stable. ·         U.S. CPI April increase 4.2%, created new high since September 2008. Estimation …

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Iron Ore DCE Sep Daily Technical Review 12/5/21

Verdict – Short-term bullish. DCE iron ore September contract continued rebound. Hourly CCI recovered massively from a monthly low of May in current two trading days. Hourly chart indicated the previous gap by the opening of May 10th successfully supported the new round of strong movement. However a short-run increase on price need to confirm …

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Daily Virtual Steel Mill Report 12/5/21

Market Verdict on Iron Ore： ·         Iron ore short-run bullish. Macro ·         U.S. dollar index DXY maintained consolidation from 90 – 90.3. ·         United Nations mid-year 2021 report indicated China growth expected to growth rate at 8.2%, higher than previous prediction at 7.2%. U.S. economy growth rate at 6.2%, higher than previous prediction as well. …

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