Tag archives: IO

Iron Ore Drops On China Covid Worries 14/06/22

Iron Ore Slides Ahead of Key China Data as Outbreaks Continue   Iron ore in Singapore slipped lower ahead of Wednesday’s economic data from China, as outbreaks in some of the nation’s key cities remain a drag on demand. The steelmaking ingredient is heading for a fourth straight decline, reversing gains made earlier this month …

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A Room with a Technical View 13/06/22

Capesize June futures – Technically bullish last week but in a corrective phase; having traded to a low of USD 34,625 the futures have traded above the USD 39,250 high, to USD 43,500. Elliott wave analysis would suggest we are on a wave 5 of the cycle that started on 29/04/22 with a potential upside …

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Iron Ore DCE September Daily Technical Review 13/06/22

Verdict – Short-term bearish.   Iron ore corrected as expected from last week. Iron ore traded with expanding volume compared to late half of last week with some previous taking gains investors leaving market. Hourly MACD corrected below 0 axis. Hourly slow stochastic corrected in line with iron ore prices after the last dead cross …

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Daily Virtual Steel Mill Report 13/06/22

Market Verdict on Iron Ore： • Neutral to bearish.   Macro • Shanghai financial department statistic indicated that 9472 enterprises above designated scale resumption rate reached 96%, utilisation rate reached 69%, up 20% from the first week of June. Daily electronic consumption up 5.6% last week, which was 86% during same period over last year. …

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POSCO Halts Some Plants Due To South Korea Trucker Strike 13/06/22

Top Steelmaker in South Korea Halts Production on Trucker Strike   South Korea’s top steelmaker Posco said it has halted output of some products as a prolonged strike by truck drivers adds more disruption to global supply chains.  The Pohang-based company stopped production at its four wire-rod factories and two cold-rolled steel plants as of …

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