Category archives: Ferrous

Iron Ore DCE January Daily Technical Review 07/09/22

Verdict – Short-term neutral.   DCE iron ore January contract was rejected by important resistance level at 700.0 yuan for consecutive three trading days. However the contract was also supported by important support level at 675.0. Thus, iron ore would remain in narrow area if failed to break the boundary area from 675.0 – 700.0 …

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Daily Virtual Steel Mill Report 07/09/22

Market Verdict on Iron Ore： • Neutral.   Macro • British new PM Elizabeth Truss said that she will prioritise economic growth, tackling energy crisis and improving access to health service. • From January to August, China imported 723 million tons of iron ores, down 3.1% on the year. China imported 61.33 million tons of …

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Iron Ore DCE January Daily Technical Review 06/09/22

Verdict – Short-term neutral.   DCE iron ore January contract was rejected by important resistance at 700.0 for the second day. Thus iron ore potentially remain in the rangebound from 685.0- 700.0. Hourly MACD narrowed above 0 axis. Hourly CCI fell from overbought area to neutral area. Short-run technical signals were indicating an exhaustion on …

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Daily Virtual Steel Mill Report 06/09/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro • China PBOC decreased foreign reserve ratio from 8% to 6% to neutralise the depreciation risk on Chinese Yuan, which was the second time cut on this ratio within the year. • Chinese financial department statistics indicated that total debt issuance at 352 million …

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