Market Verdict on Iron Ore： • Neutral. Macro： • CSRC allowed real estate company to finance in A share if meet with required conditions. • China Securities Finance lowered the overall refinancing rate by 40bps to meet with the low cost financing of security companies • New projects started concentrated in mid-China with total …
Author archives: Hao Pei
Iron Ore DCE January Daily Technical Review 20/10/22
Verdict – Short-term neutral. DCE iron ore January contract corrected significantly with expanding volume. Hourly iron ore fell back to a descending trend. Hourly MACD widened in bearish territory. Hourly slow stochastic KD dropped to oversold area. Hourly CCI dropped to bearish territory. A breakdown on 652.0 level would indicate iron ore went back to …
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Daily Virtual Steel Mill Report 20/10/22
Market Verdict on Iron Ore： • Neutral. Macro: • The Beige Book of the Federal Reserve said that enterprises were more pessimistic about the economic outlook, but the inflation pressure eased. • Eurozone September CPI annual growth rate up 9.9%, est. 10%, last 9.1%. U.K. September CPI annual growth rate up 10.1%, est. 10%, …
Global Steel Demand To Drop 2.3% This Year According To Worldsteel 20/10/22
Global steel demand will fall by 2.3pc this year to 1.79 bn t, industry association Worldsteel said today, revising down its April guidance of 0.4pc demand growth. High interest rates and persistently high inflation led to the revision, along with monetary tightening and market softening in China. “The expectation of a continued and …
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Iron Ore DCE January Daily Technical Review 19/10/22
Verdict – Short-term neutral. DCE iron ore January contract maintained consolidation for the second trading day. Hourly MACD narrowed above 0 axis. Hourly CCI entered neutral area. Short-run technical signals were indicating a neutral sentiment currently. The first support is 678.0. The first resistance is 700.0
Daily Virtual Steel Mill Report 19/10/22
Market Verdict on Iron Ore： • Neutral. Macro： • The new British Chancellor of the exchequer overturned Prime Minister Truss’s huge energy subsidy plan. Supported by the news, the British pound rose 1.54%, and the FTSE index was nearly 1% by closing. • U.S. Industrial production growth rate increased 0.4% in September compared with …
BHP Maintains 2022-23 Iron Ore Production Guidance 19/10/22
Australian resources firm BHP has kept its iron ore production guidance for the 2022-23 fiscal year to 30 June unchanged with sustained output. It produced 72.1mn t of iron ore during July-September, up by 2.2pc on a year earlier, reflecting a firm supply chain performance and reduced Covid-19 related impact, which was partially …
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Iron Ore DCE January Daily Technical Review 18/10/22
Verdict – Short-term neutral. DCE iron ore January contract closed half yuan higher than previous closing. Iron ore maintained weak during most of time today, as created lower lows periodically. At the same time, the intraday movement was rejected by 693.0-694.5 area twice. Hourly MACD created gold cross. Hourly slow stochastic KD created gold cross …
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Daily Virtual Steel Mill Report 18/10/22
Market Verdict on Iron Ore： • Neutral. Macro： • The new British Chancellor of the exchequer overturned Prime Minister Truss’s huge energy subsidy plan. Supported by the news, the British pound rose 1.54%, and the FTSE index was nearly 1% by closing. • U.S. EIA report indicated the biggest shale oil basin production estimated …
Rio Tinto Aims For Bottom Of 2022 Iron Ore Target 18/10/22
UK-Australian mining firm Rio Tinto expects to come in at the bottom of its 320mn-335mn t guidance for 2022, after shipping 82.92mn t on a 100pc basis from its Western Australian (WA) operations during July-September. The firm has a target of 85.71mn t for October-December to hit the bottom of its 2022 guidance, …
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