Category archives: Ferrous

Iron Ore DCE May Daily Technical Review 20/12/21

Verdict – Short-term neutral to bearish. DCE iron ore May22 contract corrected following the big correction of Shanghai equities and major industrial commodities. Iron ore was resisted twice over the past two trading days at 696.5- 698.5 area. If iron ore broke the 670.0 – 672.0 area, it potentially deepen correction to 645.0 area and …

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Daily Virtual Steel Mill Report 20/12/21

Market Verdict on Iron Ore： • Neutral. Macro • After experienced the super central bank week, BOE started the first round of interest rate raise. ECB increased asset purchase plan. Russia announced the seventh interest rate increase of the year. Other new emerging market countries also announced interest rate raise. However major economies in Asia …

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Ferrous Trade Weekly Review 17/12/21

A total of 710,000 mt of iron ores was traded for the week ended Dec 17, up   weekly, despite approaching the holidays season. The improving margins and market optimism over steel demand in the new year had lifted the market sentiments, though some trade participants expected some sintering curbs ahead of the Winter Olympics. During …

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Iron Ore DCE May Daily Technical Review 17/12/21

Verdict – Short-term neutral. DCE iron ore May22 contract pushed high in night session however gave back all gains in the following day session with increasing volume compared to last trading day, indicating a potential divergence on the market sentiments. Hourly slow stochastic KD created dead cross below overbought boundary. Hourly CCI fell fast from …

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Daily Virtual Steel Mill Report 17/12/21

Market Verdict on Iron Ore： • Neutral. Macro • The Bank of England unexpectedly raised interest rates by 15 basis points in borrowing costs for the first time in the current three years, due to a concerns over pandemic and the highest inflation for the past decade. • From December 15th, China central bank PBOC …

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