Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · National Bureau of Statistics: H1 2021 above designated industry companies total profit 4.22 trillion yuan, up 66.9% y-o-y, up 45.5% compared to the year 2019. · IMF global economic development review indicated the year 2021 global economy growth at 6%, in the year …
Author archives: Hao Pei
Iron Ore DCE Sep Daily Technical Review 26/7/21
Verdict – Short-term neutral. DCE iron ore September rebounded slightly and overall stablised as predicted on last Friday. A breakthrough on 1161.5 would lead iron ore into a short-run bullish market. However a rejection on the intra-day high again would mean iron ore need more time to consolidate. Hourly MACD was running in stable mode …
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Daily Virtual Steel Mill Report 26/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · According to Bloomberg’s survey of economists, it is expected that the Federal Reserve will begin to reduce its asset purchase plan next year, focusing on mortgage-backed securities. · The strong typhoon landed on east China caused coastal area transportation stoppage and port closure. …
Daily Virtual Steel Mill Report 23/7/21
Market Verdict on Iron Ore： · Iron ore short-run bearish. Macro · President of Europe Central Bank Largede expected Q2 economy started to rebound in Europe area, and growth rate become stronger in Q3 supported by strong manufacturing industry. Largede expected EU will recover to pre-pandemic economy level in next Q1. Inflation was lower than …
Iron Ore DCE Sep Daily Technical Review 22/7/21
Verdict – Short-term neutral. DCE iron ore September corrected significantly with increasing trading volume. Hourly MACD created dead cross. Hourly slow stochastic KDE created dead cross below overbought area, indicated a market reversal. CCI created a double top area. Technical signals were indicating the correction potentially continues. The first support is 1114.5, the first resistance …
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Daily Virtual Steel Mill Report 22/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · A senior official of the IMF said the global output gap of about $15 trillion caused by the Covid-19 crisis, needed “tough reforms” in product, labor and financial markets. · US Deputy Secretary of state Sherman will visit China from July 25 to …
Iron Ore DCE Sep Daily Technical Review 21/7/21
Verdict – Short-term bearish. DCE iron ore September corrected significantly with increasing trading volume. Hourly MACD created dead cross. Hourly slow stochastic KDE created dead cross below overbought area, indicated a market reversal. CCI created a double top area. Technical signals were indicating the correction potentially continues. The first support is 1152.0, the first resistance …
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Daily Virtual Steel Mill Report 21/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral to bearish. Macro · The Asian Development Bank predicts that China’s economic growth is expected to remain at 8.1% this year and 5.5% in 2022. However, the overall growth expectations of Asian developing economies have been lowered. · The National Development and Reform Commission held …
FIS Weekly Virtual Steel Margin Report 20/07/2021
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Iron Ore DCE Sep Daily Technical Review 19/7/21
Verdict – Short-term neutral. DCE iron ore September tested low at important support area around 1209.0 and bounced back. Hourly slow stochastic KD potential to create gold cross. Hourly MACD potential to flatten below 0 axis. CCI created a rebound from bearish area. Technical signals were indicating neutral. The first support is 1209.0, the first …
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