Category archives: Ferrous

Daily Virtual Steel Mill Report 31/05/22

Market Verdict on Iron Ore： • Neutral.   Macro • German CPI refreshed 50-year-high, supported the rationale to increase 50 basis points in July. • The EU agreed to ban 90% of Russia’s oil imports by the end of 2022.   Iron Ore Key Indicators: • Platts62 $136.60, +2.15, MTD $133.34. Seaborne PBF gathered interests …

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Iron ore headed for three weeks high as China starts to reopen 30/05/22

Iron Ore Rises With Copper on China’s Waning Virus Outbreak   Iron ore headed for its highest close in three weeks as industrial materials gained on hopes that China’s easing of virus curbs will herald a demand recovery. Beijing relaxed movement restrictions in several districts as new local cases in the capital declined to only …

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Asian Coal Prices rallied to a record high as India secured shipment 30/05/22

Asian Coal Prices Extend Record-Breaking Rally on Indian Demand   Asia’s coal benchmark rallied to the highest on record as India — a top consumer of the power plant fuel -moved to secure shipments, tightening supplies in the region. Spot physical coal at Australia’s Newcastle port jumped 1.6% to a record $398.75 a ton on …

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Iron Ore DCE September Daily Technical Review 30/05/22

Verdict – Short-term neutral.   DCE iron ore September rebounded significantly during the day, however with flat volume. Hourly MACD narrowed above 0 axis. Hourly slow stochastic KD created dead cross and corrected to neutral area. Hourly CCI entered neutral area. Short-run technical signals were indicating exhaustion. The return to bullish need to confirm an …

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Daily Virtual Steel Mill Report 30/05/22

Market Verdict on Iron Ore： • Neutral.   Macro • Shanghai government issued a note to accelerate economy recovery including 50 rules of financial relief. Cancel “white list on resumption” and restrictions of work resumption from June 1st. Allocate a one-time 10,000 yuan subsidy on replacement from fuel vehicles to new energy vehicles. Implement the …

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