Category archives: News

Reprint: Iron ore rallies on positive signals from China financial meeting

BEIJING (Reuters) -Iron ore strengthened on Wednesday, as positive signals from top consumer China’s latest financial meeting and sound fundamentals boosted market sentiment.   The most-traded January iron ore on China’s Dalian Commodity Exchange (DCE) ended daytime trading 2.51% higher at 919.5 yuan ($125.63) a metric ton, the highest since March 17.   The benchmark …

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Iron Ore DCE January24 Daily Technical Review 01/11/23

Verdict- Neutral to Bullish. DCE Jan24 contract rebounded as expected. Hourly MACD widened in bullish territory, however with thinner band width, indicating weaker power on buying motives. Hourly slow stochastic KD entered overbought area. CCI potentially breakdown bullish territory. Short-run technical signals were indicating a slow on the upward trend. First support 900.0. First resistance …

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Daily Virtual Steel Mill Report 01/11/23

Verdict: • Short-run Neutral.   Macro: • China held Financial Work Conference, emphasizing to build long-term mechanism to prevent and resolve risks from local debts. In addition it also mentioned providing more fudnes in innovation, high-tech manufacturing, green technology and mid/small cap companies. • China Manufacturing PMI fell under boom and bust line at 49.5. …

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