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 …
Author archives: Hao Pei
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 …
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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 …
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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 …
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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 …
Daily Virtual Steel Mill Report 16/09/22
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 …
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 …