Iron ore futures dropped at the start of second trading week of the new year, as restocking activities slowed down, while rising omicron cases caused panic in the market. The futures of Dalian Commodity Exchange (DCE) for January delivery then fell by 2.03% day-on-day or down RMB 14.50 to RMB 699.50/mt, during the day trading …
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Iron Ore DCE May Daily Technical Review 10/1/22
Verdict – Short-term neutral. DCE iron ore May22 contract corrected during the day. The short-run rebound in the afternoon session was resisted by hourly neckline at 704.5. In mid-run 720-725.5 area created a major resistance area. A further breakdown on 693.0 level would reverse iron ore into bearish trend. CCI entered a neutral area from …
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Daily Virtual Steel Mill Report 10/1/22
Market Verdict on Iron Ore： • Neutral. Macro • U.S. December non-farm payrolls increased by 199,000 new jobs , est. 444,000, last 210,000. The statistic indicated that the Federal commission strengthen the expectation of unwinding the balance sheet and increasing interest rate. • China RCEP hit the ground on January 1st of the year 2022, …
European Close 07/01/22
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London Iron Ore Market Report 07/01/22
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Iron Ore Market Daily Report 07/01/22
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Ferrous trade weekly review 7/1/22
A total of 1.26 million mt of iron ores was traded for the week ended Jan 7, down 8.36% on-week despite better restocking activities and healthy steel margins. According to trade sources, there was some easing of output restrictions for mills that comply with environmental regulations, which increase steel productions. During the week, the trades …
Iron Ore Offshore Feb 22 Morning Technical Comment – 240 Min Chart
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Daily DCE Review 7/1/22
Iron ore futures gained further on lower steel stocks, though there was some recovery from previous lows, being backed by higher production. The futures of Dalian Commodity Exchange (DCE) for January delivery then hiked up by 1.41% day-on-day or up RMB 10 to RMB 719/mt, during the day trading session on Friday. The rebar futures …
Iron Ore DCE May Daily Technical Review 7/1/22
Verdict – Short-term neutral. DCE iron ore May22 contract slowed and slight corrected during the day. As expected previously, iron ore tested and created high in mid-December, however lost the area during the first 10 minutes after market opened. The previous five-day trading volume was significantly low compared to any week of December. Hourly CCI …
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