Category archives: Ferrous

Iron Ore DCE May Daily Technical Review 15/12/21

Verdict – Short-term neutral. DCE iron ore May22 contract started weak consolidation during the day. Hourly CCI retreated approaching bearish territory. 676.0 -677.0 created a significant strong resistance. First support 645.5 was a weak support. According to Elliot wave, iron ore hourly chart didn’t successfully completed a wave 4. Technical signals were indicating a neutral …

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Daily Virtual Steel Mill Report 15/12/21

Market Verdict on Iron Ore： • Neutral. Macro • U.S. November PPI up 0.8% m-o-m, created a seven-month high. Est. up 0.5%. Last up 0.6%. • China NDRC and MIIT departments published documents to supervise commodities price movement, to increase supply on upstream commodities and utilise national reserve. Iron Ore Key Indicators: • Platts 62 …

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Daily DCE Review 15/12/21

Iron ore futures slipped on slowing steel demand and prolonged sintering curbs that dampened market sentiments. The futures of Dalian Commodity Exchange (DCE) for January delivery then went down by 2.04% day-on-day or down RMB 13.50 to RMB 649/mt, during the day trading session on Wednesday. The rebar futures, however, went up by 1.07% day-on-day …

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