Category archives: Ferrous

Iron Ore DCE May Daily Technical Review 08/12/21

Verdict – Short-term neutral. DCE iron ore May22 contract finally closed 5 yuan slight lower than opening of the day. Daily high and low were 676.0 and 652.5 respectively, which also became the first resistance and support. Hourly CCI started to weaken and diverge with iron ore price since December 6th. Hourly slow stochastic KD …

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Daily Virtual Steel Mill Report 8/12/21

Market Verdict on Iron Ore： ·         Neutral. Macro ·         China PBOC RRR released four positive signals including the stable economy growth, hedge the downside risk of economy, create a beneficial monetary environment for enterprises and indicate a manageable liquidity policy. ·         The two parties of U.S. reached a consensus to increase the maximum debt ceiling …

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Daily DCE Review 8/12/21

Iron ore futures extended gains on market optimism over steel demand with better money supply to fund construction activities. The futures of Dalian Commodity Exchange (DCE) for January delivery then increased by 2.46% day-on-day or up RMB 15.50 to RMB 646/mt, during the day trading session on Wednesday. The rebar futures, however, went down by …

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