Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China’s one-year Loan Prime Rate was 3.85% in May, same as 3.85% last month. LPR 5-year was 4.65%, which was 4.65% last month as well. LPR has been “standing still” for 13 consecutive months. · Iranian President Mahmoud Rouhani says agreement has …
Author archives: Hao Pei
Iron Ore DCE Sep Daily Technical Review 20/5/21
Verdict – Short-term neutral. DCE iron ore September contract tested low several times on 1102.0 area and rebounded, however still have some distance to the previous upper bound of the gap created last night. Hourly slow stochastic KD created gold cross above oversold area. Hourly CCI started to rebound prior to other technical signals. A …
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Daily Virtual Steel Mill Report 20/5/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · U.S. Federal meeting said if the economy continues to grow rapidly, it is appropriate to start discussing reducing the scale of bond purchase “at some time”, with mentioning the monetary policy. U.S. Treasury bonds corrected and traders raising expectations for the Federal …
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 …
FIS Weekly Virtual Steel Margin Report 18/05/21
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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 …
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 …
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 …