Market Verdict on Iron Ore: • Neutral to bullish. Macro: • In the first four months, China imported 385 million tons of iron ore, an increase of 8.6% y-o-y, and the average import price (the same below) was 781.4 yuan per ton, a decrease of 4.6%. China imported 179 million tons of crude oil, …
Tag archives: IO
Iron Ore DCE September23 Daily Technical Review 08/05/22
Verdict- Bullish. DCE Sep23 contract accelerated after recovered important resistance at 698.5- 700.0 area. A further breakthrough on next resistance at 723.0 level would confirm a reverse of a market bottom area in mid-run. Hourly CCI entered bullish territory. Hourly slow stochastic KD entered overbought area. Short-run indicators were suggesting a rebound in continuation. First …
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Daily Virtual Steel Mill Report 08/05/22
Market Verdict on Iron Ore: • Neutral to bullish. Macro: • The unemployment rate of U.S. has fallen to its lowest level in over 50 years, which is 3.4%. In April, non-farm employment increased by 253,000 files, but the job growth in February and March was 149,000 fewer than previously reported. The average hourly …
European Close 05/05/23
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Iron Ore June 23 (rolling Front Month) 05/05/23
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Singapore Iron Ore Report 05/05/23
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Iron Ore Offshore June 23 Morning Technical Comment – 240 Min Chart 05/05/23
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London Iron Ore Report 04/05/2023
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Iron Ore DCE September23 Daily Technical Review 05/05/22
Verdict- Neutral. DCE Sep23 contract tested low and recovered loss by the last two hours. In mid-run, a loss on 700.0 area meant a bearish trend in continuance. In short-run, a recover above 700.0 would mean a potential rebound. Hourly slow stochastic KD created gold cross below oversold area. Hourly MACD narrowed in bearish territory. …
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Daily Virtual Steel Mill Report 05/05/22
Market Verdict on Iron Ore: • Neutral. Macro: • The European Central Bank slowed down its rate hike on Thursday, but hinted at further tightening policies in the future, which the market expects to be the final stage of its fight against inflation. All European Central Bank decision-makers, except for the Management Committee and …