Tag archives: IO

Iron Ore DCE January Daily Technical Review 31/08/22

Verdict – Short-term neutral.   DCE iron ore January contract tested low and recovered some loss as expected from last report. Iron ore closed at same level with yesterday. Hourly MACD narrowed below 0 axis. Hourly CCI created bullish divergence with candles. The last four candles proved a consolidation pattern, the four lows fell into …

Continue reading “Iron Ore DCE January Daily Technical Review 31/08/22”

Daily Virtual Steel Mill Report 31/08/22

Market Verdict on Iron Ore： • Neutral.   Macro • ECB official indicated to increase previous interest hike from 50 bps to 75 bps. • China August Manufacturing PMI 49.4, est. 49.2, last 49.0.   Iron Ore Key Indicators: • Platts62 $97.60, -4.15, MTD 104.94. Both seaborne and portside market saw a cooling down on …

Continue reading “Daily Virtual Steel Mill Report 31/08/22”

Platts Commodity Flow Summary 31/08/22

Iron ore seaborne shipments from Rio Tinto, BHP, Vale, Fortescue Metals Group and Roy Hill, as well as from Saldanha port in South Africa, rose by 7.9% to 22.48 million mt in the week commencing Aug.21, according to Platts cFlow ship and commodity tracking software from S&P Global Commodity Insights. Average volumes over the previous …

Continue reading “Platts Commodity Flow Summary 31/08/22”

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 …

Continue reading “A Room with a Technical View 15/08/22”

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.