Iron ore futures rebounded despite slow steel demand as margins improved, which might result in better restocking activities. The futures of Dalian Commodity Exchange (DCE) for January delivery then jumped by 2.75% day-on-day or up RMB 18 to RMB 673/mt, during the day trading session on Thursday. The rebar futures also went up by 2.44% …
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Iron Ore DCE May Daily Technical Review 16/12/21
Verdict – Short-term neutral. DCE iron ore May22 contract created big rebound during the day, however rejected by 675.0-677.0 area by the third time. Iron ore in short-run was close to the end of an ascending triangle pattern. A further rejection on major resistance would exhaust the motive of rebound and bring iron ore back …
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Daily Virtual Steel Mill Report 16/12/21
Market Verdict on Iron Ore： • Neutral. Macro • U.S. FOMC decided maintain the interest rate range at 0-0.25%, which fell in the expectation of market. Federal accelerate the Taper and decrease 30 billion U.S. dollars equivalent debt purchases each month, previous decrease by 150 billion dollars. The FOMC matrix indicated that commissioners expected three …
London Iron Ore Market Report 15/12/21
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European Close 15/12/21
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Iron Ore Market Daily Report 15/12/21
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Oil and Ore Intraday Morning Technical 15/12/21
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Iron Ore DCE May Daily Technical Review 15/12/21
Verdict – Short-term neutral. DCE iron ore May22 contract started weak consolidation during the day. Hourly CCI retreated approaching bearish territory. 676.0 -677.0 created a significant strong resistance. First support 645.5 was a weak support. According to Elliot wave, iron ore hourly chart didn’t successfully completed a wave 4. Technical signals were indicating a neutral …
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Daily Virtual Steel Mill Report 15/12/21
Market Verdict on Iron Ore： • Neutral. Macro • U.S. November PPI up 0.8% m-o-m, created a seven-month high. Est. up 0.5%. Last up 0.6%. • China NDRC and MIIT departments published documents to supervise commodities price movement, to increase supply on upstream commodities and utilise national reserve. Iron Ore Key Indicators: • Platts 62 …
Daily DCE Review 15/12/21
Iron ore futures slipped on slowing steel demand and prolonged sintering curbs that dampened market sentiments. The futures of Dalian Commodity Exchange (DCE) for January delivery then went down by 2.04% day-on-day or down RMB 13.50 to RMB 649/mt, during the day trading session on Wednesday. The rebar futures, however, went up by 1.07% day-on-day …