Market Verdict on Iron Ore： • Neutral to bullish. Macro • China Auto Sales recover significantly in May. According to China Automobile Association statistics, China may vehicle sales 1.76 million units, up 49.59% from April, down 17.06% y-o-y. China January to May sales 9.45 million units, down 13.11% y-o-y. • Russia announced that the …
Author archives: Hao Pei
Saudis Raise Oil Prices More Than Expected For Asian Markets 06/06/22
Saudis Raise Oil Prices More Than Expected Amid Asia Rebound Saudi Arabia raised oil prices for its biggest market of Asia by more than expected as the region’s main economies ease coronavirus restrictions, helping boost demand. The increase for July shipments resumes a streak of hikes that started in February and was only broken when …
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Iron Ore Physical Trade Summary 02/06/22
1. GO traded 80kt PBL at Platts July Fe62% Index + $2.3, loading July 5- 14th
Daily Virtual Steel Mill Report 02/06/22
Market Verdict on Iron Ore： • Neutral to bullish. Macro • China Automobile Association suggested that the 50% cut on vehicle purchase tax would increase 2 million sales units, equal to 300 – 350 billion yuan. • EU sets harshest Russian sanctions targeting oil and insurance. Iron Ore Key Indicators: • Platts62 $136.55, …
Iron Ore DCE September Daily Technical Review 02/06/22
Verdict – Short-term neutral to bullish. DCE iron ore September contract rebounded significantly with short position cut loss before the long weekends. Hourly MACD widened above 0 axis. Hourly slow stochastic KD widened above overbought area. Hourly CCI maintained in bullish territory. Be aware of the gains taking approaching listed high at 944.5 in …
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Saudis Ready To Boost Oil Output If Russian Output Drops 02/06/22
Saudis Ready to Pump More Oil If Russian Output Drops, FT Says Saudi Arabia is prepared to boost oil output should Russian production fall substantially due to increasing sanctions, the Financial Times reported, citing five people familiar with the discussions. There have been discussions about an immediate increase in output from the Saudis …
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Iron Ore Physical Trade Summary 01/06/22
1. GO traded 90kt JMBF at AM62% July Index – $9.7, arrived in July. 2. GO traded 90kt JMBF at AM62% July Index – $9.6, arrived in July. 3. Corex traded 170kt Fe61% PBF at $134.25, loading July 17 – 16th.
Iron Ore DCE September Daily Technical Review 01/06/22
Verdict – Short-term neutral. DCE iron ore September refreshed new high, however the last two-day rebound was along with significant smaller rebound. Thus, the extension of bullish run needs to see massive changing hands in the next few sessions. Hourly techncial signals were starting to show bearish divergence with price movement. Hourly MACD narrowed …
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Daily Virtual Steel Mill Report 01/06/22
Market Verdict on Iron Ore： • Neutral to bullish. Macro • Eurozone May adjusted CPI up 8.1% y-o-y, refreshed record high. Est. 7.8%, last 7.5%. • U.S. president Joe Biden held a rare meeting with Federal Reserve Chair Jerome Powell to tackle decades-high inflation ahead of the November midterm and simultaneously maintain the independence …
Iron Ore Physical Trade Summary 31/05/22
1. Corex traded 80kt Newman Lumps at Platts62% July Index + $0.34 dmtu, loading Jun 26 -Jul 5th 2. GO traded 90kt Newman Fines at $135.4, arrived in July.