Category archives: Ferrous

Daily Virtual Steel Mill Report 21/5/21

Market Verdict on Iron Ore： ·         Iron ore short-run neutral.   Macro ·         China’s one-year Loan Prime Rate was 3.85% in May, same as 3.85% last month. LPR 5-year was 4.65%, which was 4.65% last month as well. LPR has been “standing still” for 13 consecutive months. ·         Iranian President Mahmoud Rouhani says agreement has …

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Daily DCE Review 20/5/21

Iron ore futures continued to spiral downward for third consecutive trading days as steel prices and margins began to decline. The futures of Dalian Commodity Exchange (DCE) for September delivery then dropped by 5.70% on-day or up RMB 69 to RMB 1,142.50/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange, also fell …

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Iron Ore DCE Sep Daily Technical Review 20/5/21

Verdict – Short-term neutral. DCE iron ore September contract tested low several times on 1102.0 area and rebounded, however still have some distance to the previous upper bound of the gap created last night. Hourly slow stochastic KD created gold cross above oversold area. Hourly CCI started to rebound prior to other technical signals. A …

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Daily Virtual Steel Mill Report 20/5/21

Market Verdict on Iron Ore： ·         Iron ore short-run neutral.   Macro ·         U.S. Federal meeting said if the economy continues to grow rapidly, it is appropriate to start discussing reducing the scale of bond purchase “at some time”, with mentioning the monetary policy. U.S. Treasury bonds corrected and traders raising expectations for the Federal …

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