Daily DCE Review 06/05/22

Iron ore futures ended the week on decline, despite rebounding earlier on the week since the return of Chinese trade participants from the long holidays period. The futures of Dalian Commodity Exchange (DCE) dropped by 5.12% day-on-day or down RMB 44.50 to RMB 825/mt, during the day trading session on Friday. The rebar futures also …

Iron Ore DCE September Daily Technical Review 06/05/22

Verdict – Short-term neutral to bearish.   DCE iron ore September contract tested important resistance level in 883.0- 884.5, rejected and corrected massively after then. As a result, 883.0 – 884.5 was still a major resistance area for iron ore. It is worth noting that iron ore aggregated open interest increased by 5% during the …