FIS API Blog
Verdict – Short-term neutral to bullish. DCE iron ore January contract spiked and reversed the bearish sentiment during the day. However the intra-day high was resisted by major resistance level from 697.5-700.0. Hourly MACD widened above 0 axis. Hourly CCI was in bullish territory. Short-run technical signals were indicating a potential to test high …
Continue reading “Iron Ore DCE January Daily Technical Review 05/09/22”
Market Verdict on Iron Ore： • Neutral. Macro • An official from the Ministry of Industry and Information Technology (MIIT) said at the raw material industry high-quality development press conference that the prices of steel, copper, aluminum, cement and other products have declined recently, and that the MIIT will continue to ensure supply and …
Leading steelmaker ArcelorMittal is going to idle blast furnace three at its Bremen site in Germany from the end of September indefinitely, due to unsustainable energy costs in Europe. The furnace can produce 1.2mn t/yr of pig iron. The producer will also stop a direct reduction plant in Hamburg, where it produces wire rod, …
Continue reading “ArcelorMittal Shuts Down German Blast Furnace 05/09/22”
Verdict – Short-term neutral. DCE iron ore January contract closed with slight higher than last closing with expand trading volume. The market was overwhelmed with bearish sentiment before late afternoon, supported by the taking gains effect from previous sellers. However a recover to consolidation needs to see a breakthrough on 675.0 level. The …
Continue reading “Iron Ore DCE January Daily Technical Review 02/09/22”
Market Verdict on Iron Ore： • Neutral. Macro • Eurozone 19 countries August PMI decreased from 49.8 to 49.6, indicating the high energy cost and consumer price lower the demand. Germany and Italy PMI refreshed 26-months low. Iron Ore Key Indicators: • Platts62 $95.6, -5.35, AVG $95.6. PBF and NMHG regained popularity, with …
Verdict – Short-term neutral. DCE iron ore January contract corrected signficantly, however luckily supported by 672.0 level. A breakdown on 672.0 level would indicate an entrance to bearish phase. Otherwise iron ore potentially maintain rangebounds from 672.0 – 700.0. Hourly CCI created the lowest since July 17th. Hourly MACD maintained in bearish territory since …
Continue reading “Iron Ore DCE January Daily Technical Review 01/09/22”
Market Verdict on Iron Ore： • Neutral. Macro • Eurozon August CPI up 9.1% on the year, refreshed historical high, est. 9%, last 8.9%. • The number of U.S. ADP in August was 132,000, much less than expected 300,000. Iron Ore Key Indicators: • Platts62 $100.95, +3.35, AUG AVG $104.76. PBF and NMHG …
OPEC+ sees tighter market in 2022, risks to oil demand growth The oil market will have a small surplus of just 0.4 million bpd in 2022, much less than forecast earlier, according to OPEC+, due to underproduction of its members, OPEC+ sources said. The report comes days ahead of an OPEC+ policy meeting …
Continue reading “OPEC+ Tightens Oil Market Outlook For 2022 01/09/22”
Verdict – Short-term neutral. DCE iron ore January contract tested low and recovered some loss as expected from last report. Iron ore closed at same level with yesterday. Hourly MACD narrowed below 0 axis. Hourly CCI created bullish divergence with candles. The last four candles proved a consolidation pattern, the four lows fell into …
Continue reading “Iron Ore DCE January Daily Technical Review 31/08/22”
Market Verdict on Iron Ore： • Neutral. Macro • ECB official indicated to increase previous interest hike from 50 bps to 75 bps. • China August Manufacturing PMI 49.4, est. 49.2, last 49.0. Iron Ore Key Indicators: • Platts62 $97.60, -4.15, MTD 104.94. Both seaborne and portside market saw a cooling down on …
