Category archives: Uncategorized

Last minute rally fails to spur DCE

Chinese futures dipped slightly despite a last-minute rally to pull the paper market from the trading lows of previous day. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, dipped by 0.07% day-on-day to RMB 706 per tonne on Wednesday. Similarly, the steel rebar contract on the Shanghai Futures …

Continue reading “Last minute rally fails to spur DCE”

Iron Ore DCE September Daily Technical Review May 27th(Hourly Chart from Arp 3rd to May 27th)

Verdict – Short-term neutral. DCE iron ore tested low at 685.5 for three times and then rebound through Asian hours. However, from daily chart iron ore is walking on a correction tunnel. From hourly chart, CCI has rebounded. Slow stochastic KD created gold cross in Asian morning. Short-term potentially test high. The first support is …

Continue reading “Iron Ore DCE September Daily Technical Review May 27th(Hourly Chart from Arp 3rd to May 27th)”

Crude buoyed by Russia cuts, gasoil spreads flat

The crude market was buoyed by comments from Russia reporting its oil output had nearly dropped to its target of 8.5 million barrels per day (bpd) for May and June under its supply cut deal with OPEC.   After a bank holiday yesterday and quiet trading, counterparties have come into the market this morning with …

Continue reading “Crude buoyed by Russia cuts, gasoil spreads flat”

China Abandons Hard Growth Target, Shifts Stimulus Focus to Jobs

The Chinese government abandoned its decades-long practice of setting an annual target for economic growth amid the storm of uncertainty unleashed by the coronavirus pandemic, and said it would continue to increase stimulus. Speaking at the National People’s Congress in Beijing on Friday morning, Premier Li Keqiang delivered an annual policy address that instead laid …

Continue reading “China Abandons Hard Growth Target, Shifts Stimulus Focus to Jobs”