Author archives: Hao Pei

Daily Virtual Steel Mill Report 11/8/21

Market Verdict on Iron Ore： ·         Iron ore short-run neutral. Macro ·         The U.S. Senate voted 69 to 30 to approve the $1 trillion cross-party base establishment bill, which includes $550 billion in new infrastructure funding project. ·         China Ministry of Finance: building fiscal and tax policies to promote green and low-carbon development, will support …

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Iron Ore DCE Jan Daily Technical Review 9/8/21

Verdict – Short-term neutral. DCE iron ore January contract corrected over Friday night session and the day session of Monday. However the trading volume decreased and rebounded during most of the day session on Monday. A further breakdown on daily low at 845.0 with small trading volume would indicated a new round of slump. Hourly …

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Daily Virtual Steel Mill Report 9/8/21

Market Verdict on Iron Ore： ·         Iron ore short-run neutral. Macro ·         China National Bureau of Statistics: July CPI up 1% from June, up 0.3% y-o-y. July PPI up 9% y-o-y, from 0.5% from August. Jan- July Manufacturing ex-work price up 5.7% y-o-y, Manufacturing purchase price up 7.9% y-o-y. Iron Ore Key Indicators: ·         Platts …

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Daily Virtual Steel Mill Report 6/8/21

Market Verdict on Iron Ore： ·         Iron ore neutral. Macro ·         IMF: global economic growth will reach 6% in 2021, which is a high forecast and the highest global growth rate in the past few decades. ·         New Typhoon landed in southern China, which will impact four southern provinces with heavy rain for the coming …

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Iron Ore DCE Jan Daily Technical Review 5/8/21

Verdict – Short-term neutral to bearish. DCE iron ore September rolled to January during this week. The big correction with greater volume during a rolling period indicated major investors were slight bearish in the after market of iron ore. Hourly chart candles entered stable over the afternoon session. A hold up on 873.0 level would …

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Daily Virtual Steel Mill Report 5/8/21

Market Verdict on Iron Ore： ·         Iron ore short-run neutral to bearish. Macro ·         U.S. July Markit service PMI 59.9, est. 59.8, last 59.8. Composite PMI 59.9, last 59.7. ·         The three departments of China encouraged four kinds of household appliance manufacturers such as TV sets, refrigerators, washing machines and air conditioners to carry out …

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Iron Ore DCE Sep Daily Technical Review 4/8/21

Verdict – Short-term neutral. DCE iron ore September re-entered into a new consolidation area in the first few trading days of August. Hourly MACD expanded above 0 axis. Hourly slow stochastic KD rebounded. A continuance of rebound need a confirm to break 1077.0, however the resistance around 1100.0 was significant. Short-run consolidation in narrowing range. …

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Daily Virtual Steel Mill Report 4/8/21

Market Verdict on Iron Ore： ·         Iron ore short-run neutral. Macro ·         China Caixin July PMI 54.9, est. 50.5, last 50.3. ·         China Automobile Association: China July Automobile sales 1.82 million, down 9.7% m-o-m, down 13.8% y-o-y. ·         Since the end of July, China weather has gradually improved, the local market demand has recovered rapidly, …

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