Market Verdict on Iron Ore： • Neutral to bullish. Macro： • BOE hiked interest rate by 50 bps to 2.25%, in line with expectations. • The Asian Development Bank released a report of Asian Development Outlook 2022, and lowered the economic growth forecast of developing Asian economies to 4.3% this year, compared with 5.2% …
Author archives: Hao Pei
Iron Ore DCE January Daily Technical Review 22/09/22
Verdict – Short-term neutral to bullish. DCE iron ore January contract closed high with new built open interest, however the new positions increased was slight smaller than the positions left yesterday. The money movement was suggesting the current market was cautious on the growth as mid-run. Hourly MACD and CCI both entered bullish territory. …
Continue reading “Iron Ore DCE January Daily Technical Review 22/09/22”
Daily Virtual Steel Mill Report 22/09/22
Market Verdict on Iron Ore： Neutral to bullish. Macro: U.S. Federal increased 75 bps in September FOMC to 3.00-3.25%. Powell quoted the interest plot matrix that the Federal potentially increase 100-125 bps for the remaining of 2022. The Asian Development Bank released a report of Asian Development Outlook 2022, and lowered the economic growth …
Iron Ore DCE January Daily Technical Review 21/09/22
Verdict – Short-term neutral. DCE iron ore January contract tested low and recovered as expected with expanding volunme. However iron ore needs to test the effectiveness of major support at 700.0 level. Hourly CCI moved from bearish territory to neutral area. Hourly slow stochastic KD created gold cross in oversold area. Technical signals were …
Continue reading “Iron Ore DCE January Daily Technical Review 21/09/22”
Daily Virtual Steel Mill Report 21/09/22
Market Verdict on Iron Ore： Neutral. Macro European Central Bank President Lagarde is expected to further increase interest rates. ECB indicated that the inflation prospect will determine the terminal point of interest rate. Canada August CPI up 7% on the year, lower than 7.6% in July, lower than estimated 7.3%. Japan core CPI up …
Australia BHP Coal Mine Workers Set To Vote On Strike 21/09/22
BHP coal mine workers in Australian state set to vote on industrial action Workers at four mines of the BHP Mitsubishi Alliance (BMA), which owns Australia’s largest metallurgical coal fields, will vote on strike action over working conditions and job security, their union said on Wednesday. The possibility of industrial action at some sites …
Continue reading “Australia BHP Coal Mine Workers Set To Vote On Strike 21/09/22”
Iron Ore DCE January Daily Technical Review 20/09/22
Verdict – Short-term neutral. DCE iron ore January contract recovered from the low open during the day, however hit down last half trading hour. Iron ore technically entered a desending tunnel from hourly candles. However there was chance to see slight rebound as previous four rounds in this chart. Hourly MACD remained in bearish …
Continue reading “Iron Ore DCE January Daily Technical Review 20/09/22”
Daily Virtual Steel Mill Report 20/09/22
Market Verdict on Iron Ore： • Neutral to bullish. Macro • China NDRC would accelerate financial investment tools total amount 300 billion yuan to help infrastructure projects landing. • Moody decreased global GDP to 2.4% from 2.9% in June, dragged by the energy crisis in Europe, inflation and tightened monetary policies in global countries. …
Iron Ore DCE January Daily Technical Review 19/09/22
Verdict – Short-term neutral. DCE iron ore January contract entered a descending tunnel as lower highs and lows during past three trading days. However the last two day saw decreasing volume. Hourly MACD narrowed above 0 axis. Hourly slow stochastic KD created dead cross below overbought area. Once iron ore broke down 700.0 with …
Continue reading “Iron Ore DCE January Daily Technical Review 19/09/22”
Daily Virtual Steel Mill Report 19/09/22
Market Verdict on Iron Ore： • Neutral to bullish. Macro • Super Central Bank week: Ten countires including U.S. Federal would finalise the interest rate decision during this week. • U.S. Shale oil and gas companies announced European buyers that they can’t provide additional energies in this winter. Once Europe ban on Russia oil …