Verdict – Short-term neutral.
DCE iron ore Jan contract attracted 469 million yuan money inflow during the day, while rebar jan evaporated 328 million yuan. Iron ore May contract rebound 1% more than Jan contract due to rolling. However DCE Jan contract still double the positions of May contract. The completion of rolling is expected to finish in early Decemeber. From last two hours candles, iron ore became stable on 897-898.5 area, which refreshed historical high of the day again.
The first support is 878.5. The first resistance is 915.0
