Tag archives: IO

Iron Ore DCE January Daily Technical Review 21/10/22

Verdict – Short-term neutral. DCE iron ore January contract consolidated during the day as expected. Tested high however rejected by previous strong resistance at 687.0. Hourly slow stochastic KD approached bullish territory and created dead cross. Hourly MACD narrowed above 0 axis. Short-run maintain neutral sentiment. The first support is 652.0. The first resistance is …

Continue reading “Iron Ore DCE January Daily Technical Review 21/10/22”

Daily Virtual Steel Mill Report 21/10/22

Market Verdict on Iron Ore： • Neutral.   Macro： • CSRC allowed real estate company to finance in A share if meet with required conditions. • China Securities Finance lowered the overall refinancing rate by 40bps to meet with the low cost financing of security companies • New projects started concentrated in mid-China with total …

Continue reading “Daily Virtual Steel Mill Report 21/10/22”

Iron Ore DCE January Daily Technical Review 20/10/22

Verdict – Short-term neutral. DCE iron ore January contract corrected significantly with expanding volume. Hourly iron ore fell back to a descending trend. Hourly MACD widened in bearish territory. Hourly slow stochastic KD dropped to oversold area. Hourly CCI dropped to bearish territory. A breakdown on 652.0 level would indicate iron ore went back to …

Continue reading “Iron Ore DCE January Daily Technical Review 20/10/22”

Daily Virtual Steel Mill Report 20/10/22

Market Verdict on Iron Ore： • Neutral.   Macro: • The Beige Book of the Federal Reserve said that enterprises were more pessimistic about the economic outlook, but the inflation pressure eased. • Eurozone September CPI annual growth rate up 9.9%, est. 10%, last 9.1%. U.K. September CPI annual growth rate up 10.1%, est. 10%, …

Continue reading “Daily Virtual Steel Mill Report 20/10/22”

Global Steel Demand To Drop 2.3% This Year According To Worldsteel 20/10/22

Global steel demand will fall by 2.3pc this year to 1.79 bn t, industry association Worldsteel said today, revising down its April guidance of 0.4pc demand growth.   High interest rates and persistently high inflation led to the revision, along with monetary tightening and market softening in China.   “The expectation of a continued and …

Continue reading “Global Steel Demand To Drop 2.3% This Year According To Worldsteel 20/10/22”