Daily DCE Review 2/10/21

Iron ore futures slumped due to winter off peak season, dropping to a year-low in view of strict production restriction and sintering curbs imposed on Chinese mills. The futures of Dalian Commodity Exchange (DCE) for January delivery then plunged by 9.95% day-on-day or down RMB 62.50 to RMB 565.50/mt, during the day trading session on …

Iron Ore DCE Jan Daily Technical Review 1/11/21

Verdict – Short-term neutral to bearish. DCE iron ore Jan contract volatile in narrow range during the day, however saw lower lows and lower highs. Iron ore was running in a descending tunnel. Hourly CCI decreased to the lowest since September 17th. Slow stochastic KD consolidate in netural range. Hourly MACD created dead cross below …

Daily Virtual Steel Mill Report 1/11/21

Market Verdict on Iron Ore: ·         Neutral. Macro ·         China National Bureau of Statistics: China October PMI 49.2, last 49.6, est. 49.7. The second month located in the contraction area. ·         G20 countries drafted plan will take the maximum efforts to stop new build coal-based electricity power generating program. Iron Ore Key Indicators: ·         Platts …