Tag archives: IO

Iron Ore DCE September Daily Technical Review 14/07/22

Verdict – Short-term neutral to bearish.   DCE iron ore September closes lower than yesterday, however settlement price was slightly higher than yesterday. Iron ore prices was snapped by the significant new sellers entering during the last ten minutes. Intra-day correction tested strong support around 603 – 703.5. A breakdown on this area would potentially …

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Daily Virtual Steel Mill Report 14/07/22

Market Verdict on Iron Ore： • Neutral.   Macro • U.S. CPI refreshed 40 -year-high at 9.1%, last 8.6%, est. 8.8%. However U.S. president Joseph Biden believed that the oil price has fallen recently, which yet to reflect in the inflation statistics. • Goldman Sachs expected copper average price at $6700/mt, $7600/mt and $9000/mt in …

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Iron Ore DCE September Daily Technical Review 13/07/22

Verdict – Short-term neutral.   DCE iron ore September slumped yesterday however recovered most losses during the day. Thus, maintain neutral in short-run. The effective support area range from 693.0 – 703.5 have created four reversals within the previous four weeks. The resistance in 786.0 was strong as well, which used to be the upper …

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Daily Virtual Steel Mill Report 13/07/22

Market Verdict on Iron Ore： • Neutral.   Macro • OPEC: Global oil supply tension yet to resolve. OPEC expected oil demand increase by 2.7 million barrels/day in 2023, with total demand at 30.10 million barrels, up 900,000 barrels/day from 2022. • Goldman Sachs expected copper average price at $6700/mt, $7600/mt and $9000/mt in the …

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