Tag archives: IO

A Room with a Technical View 15/08/22

Capesize September Futures – We remain in a bearish trending environment, with the futures below all key moving averages supported by the RSI below 50. The futures have traded below the USD 10,950 low, creating a positive divergence on the intraday RSI, not a buy signal. It does warn that we have the potential to …

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Iron Ore DCE January Daily Technical Review 30/08/22

Verdict – Short-term neutral.   DCE iron ore January contract corrected significantly for the second trading day. Hourly MACD widened below 0 axis. Hourly slow stochastic KD entered oversold area. In short-run iron ore potentially test the effectiveness of major support on 672.0 level.   The first support is 672.0. The first resistance is 700.0.

Daily Virtual Steel Mill Report 30/08/22

Market Verdict on Iron Ore： • Neutral.   Macro • U.S. dollar index DXY refreshed new high yesterday at 109, a 20-year-high. Non-dollar currencies experienced fast depreciation in past two weeks. • China Automobile Associaiton: Jan- Jul auto-making profit 273.94 million yuan, down 14.4% on the year, improved 11.1% from Jan-Jun. The auto-making industry contribute …

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India’s Top Court Eases Karnataka Iron Ore Mining Curb 30/08/22

India’s Supreme Court has raised the ceiling on annual iron ore production in the southern state of Karnataka, easing the curbs on the state’s iron ore industry for the second time this year.   The top court raised the ceiling on iron ore mining from 28mn t in the district of Ballari to 35mn t, …

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Iron Ore DCE January Daily Technical Review 29/08/22

Verdict – Short-term neutral.   DCE iron ore January contract retreated with expanding volume, however the closing was higher than last trading day. The decrease in open interest indicated both previous buyers and sellers were leaving the market. The short-run high was confirmed at 736.5 area. Hourly CCI saw a rebound during last hour, along …

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Daily Virtual Steel Mill Report 29/08/22

Market Verdict on Iron Ore： • Neutral.   Macro • U.S. central PCE increased 4.6% year-on-year, est. 4.7%, last 4.8%, refreshed the lowest since February 2021. • Jan- July above designated industrial value added amount at 4.89 trillion yuan, down 1.1% on the year.   Iron Ore Key Indicators: • Platts62 $105.80, +3.55, MTD $105.49. …

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