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Author archives: Hao Pei
Iron Ore DCE Sep Daily Technical Review 10/5/21
Verdict – Short-term bullish. DCE iron ore September contract reached limit-up at 1326.0. Most of trades from last week were done by previous buyers taking gains and new buyers entering market. Thus open interest fell by 13.8% from mid-April. Hourly MACD flattened. Slow stochastic widened. SHFE HRC and Rebar have significant bids working on limit-up …
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Daily Virtual Steel Mill Report 10/5/21
Market Verdict on Iron Ore： · Iron ore short-run neutral to bullish, be aware of taking gains. Macro · U.S. non-agricultural employment reached 266,000, much lower than expectation at 978,000. U.S. index DXY dropped to the lowest since February 25th. Inflation-linked assets were bought massively cross weekends. Iron Ore Key Indicators: · Iron ore and …
China Wuxi Cobalt Index Weekly Technical Review 10/5/2021
Verdict – Short-term neutral. China Wuxi Cobalt entered a consolidation area from mid-April. Cobalt didn’t catch up the big voltality as other metals after Labor day. The decrease on trading volume in April in general trapped Cobalt market into a narrow consolidation range. Technical signals were indicating a very neutral trend in short-run as well. …
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Iron Ore DCE Sep Daily Technical Review 7/5/21
Verdict – Short-term neutral to bullish. DCE iron ore September contract refreshed historical high and maintain strong movement. Iron ore futures hourly candles failed to breakthrough intra-day high at 1231.0 level. Hourly CCI retreated to the bound between neutral and bullish area from a two-week-high, which created a bearish divergence with the strong price movement. …
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Daily Virtual Steel Mill Report 7/5/21
Market Verdict on Iron Ore： · Iron ore neutral to bullish. Macro · Commodity market witnessed a massive growth in May since a concern on Indian pandemic spread caused a new round of chain-effect. In addition, China-Australia tension also contribute to the metals growth. · IMF indicated world countries need to be aware of the …
Iron Ore DCE Sep Daily Technical Review 6/5/21
Verdict – Short-term neutral to bullish. DCE iron ore September contract refreshed historical high and maintain strong movement. Iron ore created a gap as a strong support after a high open cross Labor Day Holiday. Hourly slow stochastic KD created gold cross near oversold area. Hourly CCI created two-weeks-high fast from a monthly low during …
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Daily Virtual Steel Mill Report 6/5/21
Market Verdict on Iron Ore： · Iron ore neutral to bullish. Macro · China National Development of Reform Commission decides to indefinitely suspend all activities under the framework of the China-Australia Strategic Economic Dialogue jointly held by the National Development and Reform Commission of the People’s Republic of China and relevant ministries of the Australian …
Iron Ore DCE Sep Daily Technical Review 30/4/21
Verdict – Short-term neutral to bearish. DCE iron ore September contract retreated as previous long taking gains before Labor Day holiday. However market needs further confirmation on the reversal, unless a breakdown on important support on 1083.0 level. Hourly slow stochastic KD narrowed near oversold area. Hourly CCI flattened. Technical signals were indicating the correction …
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Daily Virtual Steel Mill Report 30/4/21
Market Verdict on Iron Ore： · Iron ore neutral. Macro： · U.S. Q1 GDP growth rate at 6.4%, higher than 6.1% expected. Iron Ore Key Indicators: · Platts62 $190.45, unch, MTD $179.29. Corex PBF yesterday traded with a $6 premium based on June Index, which was unchanged to the day before. However miner traded a …