Market Verdict on Iron Ore： • Neutral. Macro • China NBS: July excavators produced 19,612 units, down 3.2% on the year. Jan-July total produced 185,743 units, down 25.6% on the year. Jan- July total sold 161,033 units, down 33.2% on the year. • U.K. CPI in July up $10.1 on the year, refreshed the …
Author archives: Hao Pei
Iron Ore DCE January Daily Technical Review 18/08/22
Verdict – Short-term neutral to bearish. DCE iron ore January corrected slightly as expected from previous report. Iron ore was rejected by 700.0 yuan during the day. The lower support was near 676.5 area, where market saw two reversal on hourly chart. Hourly MACD was in bearish territory in most of time since August …
Continue reading “Iron Ore DCE January Daily Technical Review 18/08/22”
Daily Virtual Steel Mill Report 18/08/22
Market Verdict on Iron Ore： · Neutral. Macro · NAHB/Wells Fargo Housing Index(HMI) decrease 6 to 49, created the eighth consecutive monthly decrease. The number was also the lowest since 2014, which indicated the U.S. economy was slowing down. · AFS: Global automobile market decreased 2.9973 million units, expected to decrease 3.8262 million units …
Iron Ore DCE January Daily Technical Review 17/08/22
Verdict – Short-term neutral to bearish. DCE iron ore January failed to extend the previous growth and went back to a descending tunnel. Daily MACD entered a bearish territory. Daily CCI entered a bearish territory. Iron ore potentially see oversold rebound in the next few sessions. However technical signals were indicating iron ore entered …
Continue reading “Iron Ore DCE January Daily Technical Review 17/08/22”
Daily Virtual Steel Mill Report 17/08/22
Market Verdict on Iron Ore： · Neutral. Macro · NAHB/Wells Fargo Housing Index(HMI) decrease 6 to 49, created the eighth consecutive monthly decrease. The number was also the lowest since 2014, which indicated the U.S. economy was slowing down. · AFS: Global automobile market decreased 2.9973 million units, expected to decrease 3.8262 million units …
Australia’s Port Hedland July Iron Ore Exports Rise 5.9% On Year 17/08/22
Australia’s largest iron ore loading port, the port of Port Hedland, exported 46.9 million mt of iron ore in July, up 5.9% on the year, according to the latest data released by the Pilbara Ports Authority Aug. 16. However, the PPA data showed that the exports were down 5.7% from June, which had seen the …
Continue reading “Australia’s Port Hedland July Iron Ore Exports Rise 5.9% On Year 17/08/22”
Iron Ore DCE January Daily Technical Review 16/08/22
Verdict – Short-term neutral. DCE iron ore January successfully broke the neckline level at 713.5 recovered most of loss from last trading day. Thus, iron ore return to neutral level. Hourly slow stochastic KD created a gold cross. Hourly MACD potentially create gold cross. Technical signals were indicating a neutral sentiment. The first …
Continue reading “Iron Ore DCE January Daily Technical Review 16/08/22”
Daily Virtual Steel Mill Report 16/08/22
Market Verdict on Iron Ore： • Neutral. Macro • Chinese central bank PBOC lowered one-year length Medium Lending Facility rate from 2.85% to 2.75%. Market expect Loan Prime Rate in China should follow the decrease soon. • NAHB/Wells Fargo Housing Index(HMI) decrease 6 to 49, created the eighth consecutive monthly decrease. The number was …
BHP Cuts Investment In Australian Coking Coal Business 16/08/22
Australian resources firm BHP has cut all investment in its Queensland coking coal business, in response to the state government’s coal royalty rate increase and China’s continuing ban on imports of Australian coal. “We are not going to deploy any major capital into the Queensland coal business following the change in the Queensland royalties,” BHP …
Continue reading “BHP Cuts Investment In Australian Coking Coal Business 16/08/22”
Russia ‘s Oil Export Duty To Decline In September 16/08/22
Russia’s oil export duty to fall to $52 per tonne in September Russia’s oil export duty is set to decline to $52 per tonne in September from $53 per tonne in August, the finance ministry said on Monday, tracking global oil prices. Retrieved from: https://www.reuters.com/business/energy/russias-oil-export-duty-fall-52t-sept-finance-ministry-2022-08-15/