Category archives: Ferrous

Iron Ore DCE September Daily Technical Review 22/4/22

Verdict – Short-term bearish. DCE iron ore September contract broke the important support level at 885.0 – 887.0, entering a correction phase. A further breakdown on 876.0 potentially initiate an acceleration of correction. Hourly MACD tested 0 axis and corrected back. However CCI approached the boundary of neutral and bearish territory. Short-run bearish. The first …

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Daily Virtual Steel Mill Report 22/4/22

Market Verdict on Iron Ore： • Neutral to bearish.   Macro • CNH depreciated 300 basis points at 6.45, refreshed six-month records. • U.S. Federal official Mary Darly indicated that the 50 basis points interest rate increase was “very possible” in May. U.S. Federal potentially to raise interest rate to a neutral level. • Germany …

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Iron Ore DCE September Daily Technical Review 21/04/22

Verdict – Short-term neutral.   DCE iron ore September contract tested a lower high compared to yesterday, however also supported by major level above important level 887.0. Iron ore hourly MACD corrected below 0 axis. Hourly CCI once approached the overbought level and corrected back to bearish territory. The support and resistance remain unchanged from …

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Daily Virtual Steel Mill Report 21/04/22

Market Verdict on Iron Ore： • Neutral.   Macro • China Loan Prime Rate at 1 year unchanged at 3.7%, est. 3.65%, last 3.7%. Five-year LPR at 4.6%, est. 4.55, last 4.6%. • U.S. Federal official Mary Darly indicated that the 50 basis points interest rate increase was “very possible” in May. U.S. Federal potentially …

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