Category archives: Ferrous

Iron Ore DCE May Daily Technical Review Jan 6th

Verdict – Short-term neutral. DCE iron ore tested both high and low during the trading day. Iron ore finally recovered some losses after tested 1016.0 area twice during the day. A breakthrough on 1048.5 and 1069.5 potentially trigger a strong rebound in mid-run. From hourly chart, MACD flattened. Hourly KD potentially create gold cross, however …

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DCE rises on supply tightness and high restocking demand

Iron ore futures continued its upward momentum since the start of the week, due to market optimism over steel and restocking demand. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) then rose to 4% on-day or RMB 40 to RMB 1,039/mt on Tuesday. The steel rebar contract on the Shanghai Futures …

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