Iron Ore DCE January Daily Technical Review Nov 16th

Verdict – Short-term neutral. DCE iron ore Jan contract volatility increased and the high low range expanded compared to last Friday. A rejection on 850.0 would stuck iron ore in 819.5-850.0 in short-run. However a breakthrough on 850.0 would potentially trigger a new round of rebound. Hourly MACD potentially create a gold cross. Technical signals …

Daily Ferrous Physical Review Nov 16th

Ferrous Market –    Steelbank: construction steel inventory 4.49 million tonnes, down 12.91% w-o-w. HRC inventory 1.67 million tonnes, down 14.44% w-o-w. –    China October crude steel production 92.2 million tonnes, up 12.7 y-o-y. Jan – Oct crude steel production 873.93 million tonnes, up 5.5% y-o-y. –    China Ministry of Industrial and Information Technology researcher indicated …