Market Verdict on Iron Ore： · Iron ore short-run bearish. Macro · China top economic planning to rein in abnormal fluctuations in commodities price including iron ore, copper, and corn, which was part of broader five-year plan to overhaul various pricing mechanisms. · On May 25, CNY against the US dollar mid-rate was 6.4283, up …
Author archives: Hao Pei
FIS Weekly Virtual Steel Margin Report 25/05/21
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004 US (FL): +1 813 490 6630
Iron Ore DCE Sep Daily Technical Review 24/5/21
Verdict – Short-term neutral. DCE iron ore September contract created the lowest since April 16th, however recover most of losses in Asian session. The resistance on 1100 area was significant. Hourly slow stochastic KD created gold cross near oversold area. CCI created bullish divergence with iron ore price. Technical signals were indicating a slow down …
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Daily Virtual Steel Mill Report 24/5/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · On the morning of May 23,China National Development of Reform and Commission and other five departments jointly held a meeting interview key enterprises with strong market influence in iron ore, steel, copper, aluminum and other industries, with the participation of the Iron …
Iron Ore DCE Sep Daily Technical Review 21/5/21
Verdict – Short-term bearish. DCE iron ore September contract struggled around 1111.0 level several times during the day and finally broke 1102.0, which was an important support level during the current two days. Hourly CCI went back into bearish area. Hourly MACD widened below 0 axis. Hourly KD softened after a dead cross above oversold …
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Daily Virtual Steel Mill Report 21/5/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China’s one-year Loan Prime Rate was 3.85% in May, same as 3.85% last month. LPR 5-year was 4.65%, which was 4.65% last month as well. LPR has been “standing still” for 13 consecutive months. · Iranian President Mahmoud Rouhani says agreement has …
Iron Ore DCE Sep Daily Technical Review 20/5/21
Verdict – Short-term neutral. DCE iron ore September contract tested low several times on 1102.0 area and rebounded, however still have some distance to the previous upper bound of the gap created last night. Hourly slow stochastic KD created gold cross above oversold area. Hourly CCI started to rebound prior to other technical signals. A …
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Daily Virtual Steel Mill Report 20/5/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · U.S. Federal meeting said if the economy continues to grow rapidly, it is appropriate to start discussing reducing the scale of bond purchase “at some time”, with mentioning the monetary policy. U.S. Treasury bonds corrected and traders raising expectations for the Federal …
Daily Virtual Steel Mill Report 19/5/21
Market Verdict on Iron Ore： · Iron ore short-run neutral to bearish. Macro · On May 18, China’s National Development and Reform Commission(NDRC) held a regular press conference: the NDRC and the General Administration of Market Supervision are jointly investigating the market conditions of steel and iron ore. “We will accelerate the construction of …
FIS Weekly Virtual Steel Margin Report 18/05/21
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004 US (FL): +1 813 490 6630