Market Verdict on Iron Ore： • Neutral. Macro: • China National Bureau of Statistics: China PPI in December down 0.7% on the year, down 0.5% on the month. CPI up 1.8% in December, flat from last month. • China’s regulatory authorities have preliminarily determined the list of high-quality developers to implement the “Balance Sheet …
Author archives: Hao Pei
Iron Ore DCE May23 Daily Technical Review 11/01/23
Verdict – Short-term neutral. DCE iron ore May23 contract rebounded and maintained strong for the second trading day. However the strength of the rebound need to test important resistance at 856.0 level. Hourly MACD was stable above 0 axis. Hourly slow stochastic KD potentially create dead cross in overbought area. Iron ore open positions …
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Daily Virtual Steel Mill Report 11/01/22
Market Verdict on Iron Ore： • Neutral. Macro: • China PBOC statistic indicated that December M2 up 11.8%, up 2.8% on the year, lower than 12.4% in November. Iron Ore Key Indicators: • Platts62 $118.70, -1.10, MTD $118.07.Seaborne saw the most active trade in January yesterday. IOCJ traded at $137.2. MACF traded at …
Iron Ore DCE May23 Daily Technical Review 10/01/22
Verdict – Short-term neutral. DCE iron ore May23 contract recovered partial loss created by yesterday and brought the trend back to consolidation in short-run. Hourly MACD entered a bullish territory. Similarly, hourly CCI approached bullish territory. Hourly candles created a important gap from 823.5-826.5, which potentially become a support in short-run. The first support is …
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Daily Virtual Steel Mill Report 10/01/22
Market Verdict on Iron Ore： • Neutral to bearish. Macro： • ECB announced that the strong EU salaries increase would become important factor to support interest hike. • U.S. Atlantic Federal president Raphael Bostic predicted a 1% economy growth in U.S. in 2023 instead of recession. Bostic believed that inflation rate potentially drop to …
Iron Ore DCE May23 Daily Technical Review 09/01/22
Verdict – Short-term bearish. DCE iron ore May23 contract from hourly candles chart saw a significant reversal pattern, which indicate a potential to test low in next few sessions. A recover on 830.0 would indicate a short-run rebound, however the main trend reversed from a bullish to a correction phase in short-run. The first support …
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Daily Virtual Steel Mill Report 09/01/22
Market Verdict on Iron Ore： • Neutral to bearish. Macro： • U.S. non-agriculture claims increased by 223,000 in December, created the smallest increase since December 2020, higher than predicted 200,000. • U.S. Atlantic Federal president Raphael Bostic indicated that the Federal would insist on interest hike to fight high inflation, till interest rate reach …
Iron Ore DCE May23 Daily Technical Review 06/01/22
Verdict – Short-term neutral. DCE iron ore May23 contract recovered the loss of previous two trading days, yet to see a clear rebound signal at this level. Hourly MACD created gold cross. Hourly slow stochastic KD created higher gold cross in neutral area. Technical signals were indicating a test high. The first support is 820.0. …
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Daily Virtual Steel Mill Report 06/01/22
Market Verdict on Iron Ore： • Neutral. Macro: • China Caixin December PMI at 48.0, last 46.7, est. 46.8. • U.S. December ADP employment increased by 235,000, higher than expected 150,000, last 127,000. Iron Ore Key Indicators: • Platts62 $117.20, +0.20, MTD $117.28. PBF float premium were assessed at $1.2-1.8 based on February …
Iron Ore DCE May23 Daily Technical Review 05/01/22
Verdict – Short-term neutral to bearish. DCE iron ore May23 contract entered a short-run correction phase from hourly candles chart. Hourly MACD located in bearish territory. However hourly CCI recovered from bearish territory to neutral area. Iron ore has confliction on the level of 840.5-841.0 currently. Iron ore expected to test low in next few …
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