Tag archives: IO

Iron Ore DCE May23 Daily Technical Review 07/02/22

Verdict – Short-term neutral to bearish. DCE iron ore May23 contract broke import short-run support at 834.5 during the day session, however recovered some loss. Hourly MACD flattened. Hourly slow stochastic KD flattened. A further breakdown on 828.5 would bring market to mid-run bearish. The first support is 828.5. The first resistance is 858.0  

Daily Virtual Steel Mill Report 02/07/22

Market Verdict on Iron Ore： • Neutral to bearish.   Macro: • China state council outlined a quality improvement in “Chinese Brand”, including upgrading qualities in steels, glasses, ceramics, promoting green steels. • Bloomberg: U.S. planned 200% tariff on Russia Aluminum as soon as this week.   Iron Ore Key Indicators: • Platts62 $124.05, -2.20, …

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Iron Ore DCE May23 Daily Technical Review 06/02/22

Verdict – Short-term neutral. DCE iron ore May23 contract almost duplicated the movement of previous trading day and closed at the same level at 853.5. In both trading days, market test low and recovered all losses. Thus the support on 834.0-835.0 became significant level for the next few trading days. In other words, iron ore …

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Daily Virtual Steel Mill Report 02/06/22

Market Verdict on Iron Ore： • Neutral to bearish.   Macro： • U.S. non-agriculture employment reached 517,000, created the biggest increase since July 2022, est. 185,000, last 260,000. • The Institute of Economy, Chinese Academy of Social Science published predictions on GDP growth at 3.4%, 7.2%, 4.2% and 5.2% for the four quarters of 2023 …

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