Market Verdict on Iron Ore： · Iron ore short-run neutral to bearish. Macro · World Bank increased the China economy growth rate from 8.1% to 8.5%. China was the major economic entity after the pandemic recovery, where industry and consumption activities had recovered to pre-pandemic level. Moody expected China GDP in the year 2021 reached …
Author archives: Hao Pei
Iron Ore DCE Sep Daily Technical Review 23/6/21
Verdict – Short-term neutral. DCE iron ore September contract rebounded and corrected after reaching the previous neckline area around 1176.0- 1181.5. A breakthrough on this level would potentially lead a next movement to test last high at 1253.5. A rejection on this level potentially drive iron ore back to consolidation. From hourly chart MACD expanded. …
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Daily Virtual Steel Mill Report 23/6/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · U.S. Federal Powell said the U.S. inflation exceeded the previous expectation, however Federal doesn’t have a plan to increase interest rate immediately. · China State Material Reserve Regulation Center issued an announcement on the release of the first batch of national reserves of …
FIS Weekly Virtual Steel Margin Report 22/6/2021
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Iron Ore DCE Sep Daily Technical Review 21/6/21
Verdict – Short-term bearish. DCE iron ore September contract corrected as previously expected. A further breakdown on 1106.0 potentially drive down the price to 985.0 level, which was the lowest since April 12th. Daily MACD created dead cross. Daily CCI created roof area from the second week of June and then leaked to a bearish …
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Daily Virtual Steel Mill Report 21/6/21
Market Verdict on Iron Ore： · Iron ore short-run bearish. Macro · U.S. 10 year treasury bonds yield corrected to 1.425%, which was a new low from March, 2021. · On June 18th, China PM Li Keqiang held a conference to conduct a decrease on mid-small capital enterprises fees and tax, to decrease the upstream …
Iron Ore DCE Sep Daily Technical Review 18/6/21
Verdict – Short-term neutral to bearish. DCE iron ore September contract slumped after hearing the commodity price supervision news from NDRC. However iron ore started to correct early this morning after a periodic high created over last night. The 1248.0 and 1253.5 became the double top in mid-run. A stand on 1176.0 level could help …
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Daily Virtual Steel Mill Report 18/6/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · The National Development and Reform Commission held a regular press on June 17 to carry out the supervision of the bulk commodity market, jointly investigate the market transactions, interview enterprises and associations in key industries, investigate and verify the clues related to suspected …
Iron Ore DCE Sep Daily Technical Review 17/6/21
Verdict – Short-term neutral. DCE iron ore September contract recovered major loss by last trading day and return to previous consolidation range. The area of 1225.5-1233.0 provide major resistance, as the roof areas of many candles. Hourly MACD was narrowing below 0 axis. Hourly slow stochastic KD keep rebounding. However be aware of hourly candles, …
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Daily Virtual Steel Mill Report 17/6/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China National Bureau of Statistics spokeman said to pay attention to the fast increase on industrial raw materials, and decrease the cost pressure on enterprises by enhancing the market regulation. · China May above designated scale industrial enterprises added value at 8.8% y-o-y, …