Tag archives: IO

Iron Ore DCE January Daily Technical Review 05/09/22

Verdict – Short-term neutral to bullish.   DCE iron ore January contract spiked and reversed the bearish sentiment during the day. However the intra-day high was resisted by major resistance level from 697.5-700.0. Hourly MACD widened above 0 axis. Hourly CCI was in bullish territory. Short-run technical signals were indicating a potential to test high …

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Daily Virtual Steel Mill Report 05/09/22

Market Verdict on Iron Ore： • Neutral.   Macro • An official from the Ministry of Industry and Information Technology (MIIT) said at the raw material industry high-quality development press conference that the prices of steel, copper, aluminum, cement and other products have declined recently, and that the MIIT will continue to ensure supply and …

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ArcelorMittal Shuts Down German Blast Furnace 05/09/22

Leading steelmaker ArcelorMittal is going to idle blast furnace three at its Bremen site in Germany from the end of September indefinitely, due to unsustainable energy costs in Europe. The furnace can produce 1.2mn t/yr of pig iron.   The producer will also stop a direct reduction plant in Hamburg, where it produces wire rod, …

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Iron Ore DCE January Daily Technical Review 02/09/22

Verdict – Short-term neutral.   DCE iron ore January contract closed with slight higher than last closing with expand trading volume. The market was overwhelmed with bearish sentiment before late afternoon, supported by the taking gains effect from previous sellers. However a recover to consolidation needs to see a breakthrough on 675.0 level.   The …

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Daily Virtual Steel Mill Report 02/09/22

Market Verdict on Iron Ore： • Neutral.   Macro • Eurozone 19 countries August PMI decreased from 49.8 to 49.6, indicating the high energy cost and consumer price lower the demand. Germany and Italy PMI refreshed 26-months low.   Iron Ore Key Indicators: • Platts62 $95.6, -5.35, AVG $95.6. PBF and NMHG regained popularity, with …

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Iron Ore DCE January Daily Technical Review 01/09/22

Verdict – Short-term neutral.   DCE iron ore January contract corrected signficantly, however luckily supported by 672.0 level. A breakdown on 672.0 level would indicate an entrance to bearish phase. Otherwise iron ore potentially maintain rangebounds from 672.0 – 700.0. Hourly CCI created the lowest since July 17th. Hourly MACD maintained in bearish territory since …

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