Category archives: Ferrous

Daily Virtual Steel Mill Report 11/11/21

Market Verdict on Iron Ore： ·         Neutral to bullish. Macro ·         China Evergrande paid interests to bondholders of debts expiring in the year 2022, 2023 and 2024 totaled 148 million U.S. dollars. ·         U.S. president Biden indicated control inflation was the most important thing, energy cost increase caused price increase. Biden also required Federal Trade …

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Daily DCE Review 10/11/21

Iron ore futures closed lower at the day session, despite some rally in mid-session but failed to recover lost ground. The futures of Dalian Commodity Exchange (DCE) for January delivery then fell by 4.62% day-on-day or down RMB 26 to RMB 536.50/mt, during the day trading session on Wednesday. The rebar futures followed the dip …

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Iron Ore DCE Jan Daily Technical Review 10/11/21

Verdict – Short-term neutral. DCE iron ore Jan22 refreshed listed low, however recovered half of losses during Asian afternoon following the rebound of equity market. Hourly MACD narrowed below 0 axis. Hourly slow stochastic KD created gold cross near the boundary of oversold area. Hourly CCI left bearish territory fast. Short-run technical were indicating a …

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Daily Virtual Steel Mill Report 10/11/21

Market Verdict on Iron Ore： ·         Neutral to bearish. Macro ·         China October CPI up 1.5% y-o-y, est. 1.3%, last 0.7%. China October PPI 13.5% y-o-y, est. 12%, last 107% y-o-y. U.S. PPI up 8.6% y-o-y, a ten-year-high. ·         U.S. ADP statistics indicated jobs increased 571,000 in October, est. 400,000, which created the highest since …

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