Market Verdict on Iron Ore： • Bearish. Macro • U.S. Energy Department indicated that U.S. appeal to increase oil production. A tanker carrying 650,000 barrels of Venezuelan crude oil destined Europe . This is the first time that Venezuela, under US sanctions, has exported crude oil to Europe in the past two years. • …
Author archives: Hao Pei
China’s May Oil Import From Russia Hit Record 20/06/22
China’s May oil imports from Russia soar 55% to a record, surpass Saudi supply China’s crude oil imports from Russia soared 55% from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier, as refiners cashed in on discounted supplies amid sanctions on Moscow over its invasion of …
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Iron Ore Future Drop To Six-Month Low On Worries About China’s Demand 20/06/22
Iron Ore Plunges Below $120 Amid Fresh Pessimism About Demand Iron ore has given up all its gains made earlier this year, with fresh demand pessimism triggering Monday’s decline of more than 5% amid reports that blast furnaces are idling plants. The lack of a meaningful buy-side recovery, slow end-user demand and a weak …
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Iron Ore DCE September Daily Technical Review 17/06/22
Verdict – Short-term bearish. Iron ore corrected as expected, the low open created a gap from the low of yesterday, which become a mid-run resisting area. Iron ore refreshed the biggest single day correction since April 25th. Hourly MACD corrected below 0 axis. Hourly slow stochastic KD approached oversold area. Hourly CCI approached bearish …
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Daily Virtual Steel Mill Report 17/06/22
Market Verdict on Iron Ore： • Neutral. Macro • U.S. White House officials were discussing to restrict fuel oil export, to control petroleum price below $5/gallon. Russian PM revealed that Russia would not reduce oil production. • BOE increased interest rate by 25bp to 1.25%, refreshed the highest since January 2009. • China NDRC …
Oil Price Rebound As The United States Announced New Sanctions On Iran 17/06/22
Oil rebounds as new Iran sanctions fuel more supply concerns Oil prices rose on Thursday in topsy-turvy trading after the United States announced new sanctions on Iran, and as energy markets stayed focused on supply concerns that have sent prices soaring this year. The market slipped earlier as interest rate hikes in the United …
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Iron Ore DCE September Daily Technical Review 16/06/22
Verdict – Short-term bearish. Iron ore corrected slightly as expected yesterday, the high broke important resistance however lose this level in the next half hour. Trading volume narrowed compared with yesterday, indicating there was not too much confliction on the bearish trend. Hourly MACD consolidate below 0 axis. Hourly slow stochastic flatened along the …
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Daily Virtual Steel Mill Report 16/06/22
Market Verdict on Iron Ore： • Neutral. Macro • U.S. Federal decided to increase interest rates by 75 basis points to 1.5- 1.75%, created the biggest single time rate hike since 1994. • U.S. Financial Department statistic indicated that Chinese investors decrease U.S. bond holding to 1.003 trillion dollars. Japan decreased to the lowest …
Iron Ore Physical Trade Summary 15/06/22
1. GO traded 90kt JMBF at AM62% Index – $9.1, loading Jul 11 – 20th.
Iron Ore DCE September Daily Technical Review 15/06/22
Verdict – Short-term bearish. Iron ore corrected as expected yesterday, with expanding volume and broke down two important support at 900.0 and 875.5 respectively. Hourly MACD went back to bearish area below 0 axis. Hourly CCI refreshed two-month low. Short-run technicals were indicating the correction in continuance. The first support is 806.0,the first …
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