Category archives: Ferrous

Iron Ore DCE Sep Daily Technical Review 30/4/21

Verdict – Short-term neutral to bearish. DCE iron ore September contract retreated as previous long taking gains before Labor Day holiday. However market needs further confirmation on the reversal, unless a breakdown on important support on 1083.0 level. Hourly slow stochastic KD narrowed near oversold area. Hourly CCI flattened. Technical signals were indicating the correction …

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Daily Virtual Steel Mill Report 30/4/21

Market Verdict on Iron Ore： ·         Iron ore neutral. Macro： ·         U.S. Q1 GDP growth rate at 6.4%, higher than 6.1% expected. Iron Ore Key Indicators: ·         Platts62 $190.45, unch, MTD $179.29. Corex PBF yesterday traded with a $6 premium based on June Index, which was unchanged to the day before. However miner traded a …

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Iron Ore DCE Sep Daily Technical Review 29/4/21

Verdict – Short-term neutral. DCE iron ore September contract consolidated as previous expected in wide range with increasing volume and smaller open interest because of approaching Labor Day. However hourly stochastic KD created dead cross. Hourly MACD widened below 0 axis. Iron ore currently has no clear trend within the range box of 1110.5 – …

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Daily Virtual Steel Mill Report 29/4/21

Market Verdict on Iron Ore： ·         Iron ore neutral. Macro ·         U.S. federal maintained the interest rate between 0-0.25% unchanged, in line with market expectation. Powell announced that Federal will seek financial facilities to decrease inflation rate if inflation goes beyond 2%. Iron Ore Key Indicators: ·         Platts 62%: $190.45 (-3.40) MTD $178.70. Port market …

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