Author archives: Hao Pei

Verdict – Short-term neutral to bullish, be aware of reversal on high area.   DCE iron ore May refreshed historical high and pick up significantly during the last half hour, indicating massive sellers left. Short squeezing increased pressure on short positions. From hourly chart, MACD increased fast. Hourly slow stochastic KD moved above overbought area. …

Continue reading “Iron Ore DCE May Daily Technical Review Dec 18/12/20”

Ferrous Market –    Ganggu Construction Steel Inventory: production 5.27 million tonnes, down 19,300 tonnes w-o-w. Mills inventory 4.41 million tonnes, up 247,600 tonnes w-o-w. Circulation inventory 5.67 million tonnes, down 289,700 tonnes w-o-w.-    MySteel import sintered iron ore inventories reached 17.38 million tonnes. Import iron ore turnover in 27 days.-    MySteel Rebar Inventory: Rebar production …

Continue reading “Daily Ferrous Physical Review 17/12/20”

Verdict – Short-term neutral to bullish, be aware of reversal on high area. DCE iron ore rebounded with higher lows and highs, approaching historic high again. Hourly MACD was flat. Hourly slow stochastic KD is widening beyond overbought area. CCI created high from Dec 11th. Iron ore spike caused the open interest decreased 34% from …

Continue reading “Iron Ore DCE May Daily Technical Review 17/12/20”

Ferrous Market –    CISA held an internet conference with Rio Tinto, suspecting the high premium physical trades on platform. Rio indicated would find more transparent and effective way to help creating new pricing strategies with end-users. –    Rio indicated the previous suspension miner which destroyed native sites, was not included into production target. Some media …

Continue reading “Daily Ferrous Physical Review 16/12/20”

Verdict – Short-term neutral.   DCE iron ore May consolidate and rebound during the day with unchanged both on open interest and volume. Iron ore during the day tested high and low at 1017.0 and 985.5 respectively. However major time consolidated around 1000.0. From hourly chart KD created gold cross yesterday morning and flattened during …

Continue reading “Iron Ore DCE May Daily Technical Review 16/12/20”

Verdict – Short-term neutral, be aware of market reversal. DCE iron ore Jan contract correct from historical high after the spike on Friday night. However iron ore may entirely ignored the exchange inspection notice and stay similar level from Friday night closing. A breakthrough on 923.5, previous high, potentially push iron ore back to the …

Continue reading “Iron Ore DCE May Daily Technical Review Dec 7th”

Ferrous Market –    Steelbank Inventory: construction steel inventories 3.33 million tonnes, down 8.18% w-o-w. HRC 1.34 million tonnes, down 7.79% w-o-w. –    A CISA official indicated iron ore spike has increased the industry risk and harm to the stabilisation on the ferrous chain, and suspect some market squeeze and manipulation. –    DCE started a new …

Continue reading “Daily Ferrous Physical Review Dec 7th”

Verdict – Short-term neutral. DCE iron ore Jan contract daily candle created a doji, however the intra-day high still create historic high. The Jan contract continue to roll, expected to finish early next week. The yesterday increase on position were proved as an intra-day turnover as most of them are decreased today. From hourly chart, …

Continue reading “Iron Ore DCE January Daily Technical Review Dec 3rd”