Market Verdict on Iron Ore： • Neutral to bullish. Macro • The biggest four National Banks in China decreased saving rate in September 15th. • 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 taking into effect, oil supply …
Author archives: Hao Pei
China’s Coal Production Hits 3-month Low In August 16/09/22
China’s daily coal output hits 3-month low in August on rains, COVID curbs China’s daily coal output in August slipped to a three-month low as some mines in its biggest coal mining regions reduced operations or even shut down due to heavy rainfall and COVID-19 curbs. China, the world’s top coal producer, mined 370.44 …
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Iron Ore DCE January Daily Technical Review 15/09/22
Verdict – Short-term neutral. DCE iron ore January contracted consolidated as expected yesterday. Iron ore tested high and low with wider range. 15 minutes slow stochastic KD created gold cross above oversold area. 15 minutes level MACD narrowed below 0 axis. 710.5-713.5 provided significant support in short-run from hourly chart. The first support …
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Daily Virtual Steel Mill Report 15/09/22
Market Verdict on Iron Ore： Neutral to bullish. Macro: The Muifa Typhoon entered inland China, while Chinese eastern ports area recovered normal operation after stopped for two days because of Typhoon and heavy rains. U.S. August PPI up 8.7%, est. 8.8%, last 9.8%. U.S. five-year T-bond yield refreshed highest since 2008 at 3.62%. Chinese …
Rio Tinto And Baowu Agree To Form Joint Venture With Pilbara Iron Ore Project 15/09/22
Rio Tinto, Baowu Joint Venture to Enhance Iron Ore Supply Rio Tinto Group’s joint venture with China Baowu Steel Group Corp. to develop a new mine in Western Australia’s Pilbara region is set to longer-term iron ore supply. The $2 billion Western Range mine is expected to come online in 2025. Its projected …
Iron Ore DCE January Daily Technical Review 14/09/22
Verdict – Short-term neutral. DCE iron ore January contract confirmed periodic high yesterday at 736.5 after a small correction today. In hourly chart, MACD widened below 0 axis. Slow stochastic KD deepened correction after a dead cross created in overbought area. CCI corrected close to bearish territory. The mid-run level correction needs confirmation on …
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Daily Virtual Steel Mill Report 14/09/22
Market Verdict on Iron Ore： • Neutral to bullish. Macro • U.S. August CPI growth rate at 8.3%, est. 8.1%, last 8.2%. The market expected that the Federal would prefer to initiate aggressive interest hike by 75 bps next week. • Chinese State Administration of Taxation indicated that from June to August, 3.553 million …
Iron Ore DCE January Daily Technical Review 13/09/22
Verdict – Short-term neutral to bullish. DCE iron ore January contract successfully created periodic high, however resisted by 736.5 during the day. A breakthrough on 736.5 with expanding volume would indciate a continious fast pick up. Hourly MACD narrowed above 0 axis. Hourly CCI and slow stochastic KD both flattened. Technical signals were indicating …
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Daily Virtual Steel Mill Report 13/09/22
Market Verdict on Iron Ore： • Neutral to bullish. Macro • China NBS:Chinese August PPI up 2.5% on the year, down 1.2% on the month. Chinese August CPI up 2.5% on the year, down 0.1% on the month. Chinese August M2 supply up 12.2% on the year, est. 12.2%, last 12%. Iron Ore …
Rio Tinto Resumes Western Australia Iron Ore Railings 13/09/22
UK-Australian firm Rio Tinto has resumed operations on a rail line that connects its 43mn t/yr Gudai Darri mine to port in the Pilbara region of Western Australia (WA), after 20 wagons derailed on 3 September. The 10-day disruption to railings will make it more difficult for Rio Tinto to meet its guidance of …
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