FIS API Blog
Iron Ore Extends Losses as Shanghai Outbreak Spurs Demand Fears Iron ore dropped again after a weekly decline as new virus flare-ups in China hurt the demand outlook. Prices of the steel-making material have plunged by about a third in the past four months in Singapore. They are under renewed pressure after Covid-19 cases …
Continue reading “Iron Ore Price Drops As Covid Cases Spike Again In Shanghai 11/07/22”
Germany Weighs Intervention in Energy Markets to Bring Back Coal Germany is considering intervening in its energy markets to bring coal plants back online and conserve natural gas as it rushes to limit further disruptions from top-supplier Russia. Parliament on Thursday plans to vote on a regulation that would provide compensation to coal-plant operators …
Continue reading “Germany Is Considering Bringing Back Coal To Ensure Energy Supply 08/07/22”
Verdict – Short-term neutral to bullish. DCE iron ore September rebounded as expected in last few days, created higher highs and higher lows. Hourly CCI entered bullish territory. Hourly slow stochastic KD flattened below overbought area. Hourly MACD flattened after a quick expansion above 0 axis. The rebound saw exhaustion, potentially entering a slow …
Continue reading “Iron Ore DCE September Daily Technical Review 07/07/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro • Balkin, Secretary General of OPEC, said that the oil and gas industry was being “Besieged” due to years of insufficient investment. He added that if Iran and Venezuela were allowed to bring more supplies, the shortage could be alleviated. Balkin predicted that the …
U.S. tightens sanctions on Iran, targets Chinese, Emirati firms over oil The United States on Wednesday imposed sanctions on a network of Chinese, Emirati and other companies that it accused of helping to deliver and sell Iranian petroleum and petrochemical products to East Asia, pressuring Tehran as it seeks to revive the 2015 Iran …
Continue reading “U.S. Imposed New Sanctions On Iranian Oil Sales Network 07/07/22”
Iron ore rose — after dropping 12% in a four-day run of declines – following a report that a group of steel mills in southwestern China are trying to stabilize the market. Steel producers in the region held a meeting over the weekend to discuss measures, including limiting output, according to a statement from …
Continue reading “Iron Ore Rebounds With Steel Mills Trying to Stabilize Market 06/07/22”
Verdict – Short-term neutral to bullish. DCE iron ore September contract filled the first gap after broke through the resistance at 735.5. Iron ore rebounded with significantly increased volume and open interest, indicating the reversal of a trend approaching. If breakthrough next gap resistance around 786.0, iron ore expected to accelerate rebound. The …
Continue reading “Iron Ore DCE September Daily Technical Review 05/07/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro • Global June PMI 52.3, down 0.1 from May. U.S. PMI 56.1 down 3.1, lower than estimated 54.5. Euro Zone PMI 52.1, fell in estimation. U.K. PMI 52.8, refreshed new low from the June 2020. New emerging economies PMI 51.7, first time on mid …
Verdict – Short-term neutral to bearish. DCE iron ore September contract corrected during the day as expected from previous report. Iron ore created two gaps during the past three trading days. As a result, the current two resistance were consisted of the lower boundary of last two gaps. Hourly MACD narrowed below 0 axis. …
Continue reading “Iron Ore DCE September Daily Technical Review 04/07/22”
Market Verdict on Iron Ore： • Neutral. Macro • China 100 cities new built houses traded 28.37 million square meters in June, up 37% from May, down 34% on the year. The year-on-year growth slowed down. Iron Ore Key Indicators: • Platts62 $116.45, -3.65, Jul Avg $116.45. The physical July and August iron …
