FIS API Blog
UK-Australian mining firm Rio Tinto expects to come in at the bottom of its 320mn-335mn t guidance for 2022, after shipping 82.92mn t on a 100pc basis from its Western Australian (WA) operations during July-September. The firm has a target of 85.71mn t for October-December to hit the bottom of its 2022 guidance, …
Continue reading “Rio Tinto Aims For Bottom Of 2022 Iron Ore Target 18/10/22”
Verdict – Short-term neutral. DCE iron ore January recovered most of loss created in the first half hour of this morning during the last trading hour. In short-run, MACD narrowed below 0 axis. Hourly slow stochastic KD potentially create gold cross on oversold area. CCI approached neutral area from bearish territory. Short-run technical signals were …
Continue reading “Iron Ore DCE January Daily Technical Review 17/10/22”
Market Verdict on Iron Ore： • Neutral. Macro： • The first day of Chinese National Congress stressed emphasis on real economy support, accelerating the industrialisation, manufacturing, product quality, aerospace, and digital development. • ECB official indicated that the 75 bps hike in October was appropriate. BOE indicated that interest rate should be raised to …
Verdict – Short-term neutral. DCE iron ore January contract rebounded although with a low open during night session. Hourly slow stochastic KD left bearish territory. Hourly MACD potentially create gold cross. The next resistance on 5-10-20 MACD crossed near the 715.0- 716.0 area. Short-run neutral. The first support is 686.5. The first resistance is 715.0.
Market Verdict on Iron Ore： • Neutral. Macro： • U.S. September CPI up 8.2% y-o-y, est. 8.1%, last 8.3%. U.S. CPI up 0.4% m-o-m, est. 0.2%, last 0.1%. • China NBS: September CPI up 2.8%, refreshed high of the year, last 2.5%, est. 2.8%. China PPI September up 0.9%, est. 1.0%, last 2.3%. …
Verdict – Short-term neutral. DCE iron ore January contract corrected during the day, however recovered some losses during the last trading hour. The iron ore potentially test next important support at 700.0. Hourly slow stochastic KD created gold cross. Hourly CCI left bearish territory to neutral territory. Short-run technicals were indicating an exhaustion on the …
Continue reading “Iron Ore DCE January Daily Technical Review 12/10/22”
Market Verdict on Iron Ore： • Neutral. Macro • China September social financing increased 3.53 trillion yuan, est. 2.75 trillion yuan, last 2.43 trillion yuan. • IMF estimated global economy growth at 3.2%, unchanged from previous estimation at July. However IMF lowered the global growth rate to 2.7% from 2.9% in 2023. Iron …
Verdict – Short-term neutral. DCE iron ore January contract corrected massively and broke important support area from 728.0 -735.0 with increasing volume, which was bigger than last two trading days. The short-run intra-day support fell on 716.5- 717.0, however mid-run support on 700.0. Iron ore currently terminate the mid-run rebound, however maintain range bound from …
Continue reading “Iron Ore DCE January Daily Technical Review 11/10/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro • Chicago Federal official Charles Evans indicated that extra supply-chain interactions were not an issue when the unemployment rate was around the same low level in 2019, with less inflationary impact. Evans believed that if this steeper-than-usual Phillips curve is generating much of the …
S African Kumba iron ore volumes may fall on rail issue South African logistic utility Transnet’s force majeure declaration has disrupted shipments from UK-South African miner Anglo American’s Kumba iron ore operations in South Africa. Kumba received a notice of force majeure from Transnet on 7 October because of strike action by Transnet’s …
Continue reading “South African Kumba Iron Ore Delivery Distrupted On Rail Issue 11/10/22”
