Tag archives: IO

Daily Virtual Steel Mill Report 30/08/22

Market Verdict on Iron Ore： • Neutral.   Macro • U.S. dollar index DXY refreshed new high yesterday at 109, a 20-year-high. Non-dollar currencies experienced fast depreciation in past two weeks. • China Automobile Associaiton: Jan- Jul auto-making profit 273.94 million yuan, down 14.4% on the year, improved 11.1% from Jan-Jun. The auto-making industry contribute …

Continue reading “Daily Virtual Steel Mill Report 30/08/22”

India’s Top Court Eases Karnataka Iron Ore Mining Curb 30/08/22

India’s Supreme Court has raised the ceiling on annual iron ore production in the southern state of Karnataka, easing the curbs on the state’s iron ore industry for the second time this year.   The top court raised the ceiling on iron ore mining from 28mn t in the district of Ballari to 35mn t, …

Continue reading “India’s Top Court Eases Karnataka Iron Ore Mining Curb 30/08/22”

Iron Ore DCE January Daily Technical Review 29/08/22

Verdict – Short-term neutral.   DCE iron ore January contract retreated with expanding volume, however the closing was higher than last trading day. The decrease in open interest indicated both previous buyers and sellers were leaving the market. The short-run high was confirmed at 736.5 area. Hourly CCI saw a rebound during last hour, along …

Continue reading “Iron Ore DCE January Daily Technical Review 29/08/22”

Daily Virtual Steel Mill Report 29/08/22

Market Verdict on Iron Ore： • Neutral.   Macro • U.S. central PCE increased 4.6% year-on-year, est. 4.7%, last 4.8%, refreshed the lowest since February 2021. • Jan- July above designated industrial value added amount at 4.89 trillion yuan, down 1.1% on the year.   Iron Ore Key Indicators: • Platts62 $105.80, +3.55, MTD $105.49. …

Continue reading “Daily Virtual Steel Mill Report 29/08/22”

Iron Ore DCE January Daily Technical Review 26/08/22

Verdict – Short-term neutral to bullish.   DCE iron ore January contract rebounded with increasing volume after broke through previous resistance at 721.5. Hourly MACD maintained above 0 axis, as well as the bullish territory after August 19th. Hourly CCI increased significantly in bullish territory. The iron ore trend is in acceleration phase. However be …

Continue reading “Iron Ore DCE January Daily Technical Review 26/08/22”