Author archives: Hao Pei

Verdict – Short-term neutral. DCE iron ore exhausted on previous correction and created a doji during the day. However the previous support removed from 783.5 to 776.5, iron ore still created lower lows and lower highs. From hourly chart, slow stochastic KD created gold cross and widened. MACD is narrowing and potentially create gold cross. …

Continue reading “Iron Ore DCE January Daily Technical Review Oct 16th”

Ferrous Market –    Mysteel researched 247 blast furnace operation rate at 88.41%, down 0.78% w-o-w. Utilisation rate 92.91%, down 0.30% w-o-w. Daily pig iron production 2.47 million tonnes, up 8,000 tonnes. –    MySteel 45 ports iron ore inventories at 122.39 million tonnes, up 1.78 million tonnes w-o-w. Daily evacuation 3.12 million tonnes, down 58,500 tonnes …

Continue reading “Daily Ferrous Physical Review Oct 16th”

Verdict – Short-term bearish. DCE iron ore keep correction for the fourth trading day and the intra-day low tested the first support level at 783.5 observed from last week. A breakdown on this level would trigger a new round of correction towards 751.5, and restart bearish tunnel in mid-run. From hourly chart, slow stochastic correcting …

Continue reading “Iron Ore DCE January Daily Technical Review 15/10/20”

Ferrous Market –    Canada miner Black Iron signed a 60 million dollar contract including a project with 646 million tonnes of iron ores. –    Indian Miner Industrial Organisation FIMI indicated India needs 165 million tonnes of iron ore. FIMI also indicated potentially impose export tariff on 58% grade of iron ore. –    MySteel Rebar Inventory: …

Continue reading “Daily Ferrous Physical Review 15/10/20”

Verdict – Short-term bearish. DCE iron ore keep correction and testing 809.0 area, which was a strong support in last two months. The breakdown on this support indicate iron ore potentially test 783.5 and return to bearish in mid-run. From hourly chart, however KD is flattening. CCI is also potential to create a bullish divergence. …

Continue reading “Iron Ore DCE January Daily Technical Review Oct 14th”

Ferrous Market –    Vale port at Malaysia PDM III North and PDM IV South maintenance expected delivery impact arround 518,000 tonnes. –    MySteel Australia and Brazil delivery last week down 1.35 million tonnes. Australia delivery 18.58 million tonnes, down 223,000 tonnes. Australia delivery to China 15.95 milllion tonnes, up 161,000 tonnes w-o-w. Brazil delivery 6.88 …

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Verdict – Short-term neutral. DCE iron ore correct slightly during the whole trading day. From hourly chart, MACD is potential to create a dead cross. Slow stochastic KD created dead cross above overbought area. CCI has created new low in October. If iron ore breakdown 809.0 area potentially drive market to bearish territory, otherwise iron …

Continue reading “Iron Ore DCE January Daily Technical Review Oct 12th”

Ferrous Market –    MySteel surveyed Tangshan winter production curb will decrease 2.7 million tonnes of steel production. In the year 2019 production curb impact 6.3 million tonnes. –    Steelbank Inventory: construction steel inventories 7.31 million tonnes, down 0.91% compared to the week before golden weeks. HRC 2.5 million tonnes, up 17.17% to the week before …

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Verdict – Short-term neutral. DCE iron ore rebounded during the day related to CNY and Shanghai equity rebound, indicate a recovery on investment market. Investors should be aware of reversal in following weeks. Technically entering a consolidation in mid-run since iron ore recovered 809.0 and 816.0 area. A breakthrough on 873.0 would bring market back …

Continue reading “Iron Ore DCE January Daily Technical Review Oct 9th”