Tag archives: IO

Daily Virtual Steel Mill Report 12/07/22

Market Verdict on Iron Ore： • Neutral.   Macro • Chinese M2 supply up 11.4% in June, last 11.1%, est. 11.1%, beyond expectations. • The Nord Stream I natural gas pipeline, Russia’s main gas pipeline to Europe, has begun annual maintenance and suspended gas transmission.   Iron Ore Key Indicators: • Chinese steel mills expected …

Continue reading “Daily Virtual Steel Mill Report 12/07/22”

A Room with a Technical View 11/07/22

Capesize August Futures – Technically bullish last week with the futures in the early stages of a corrective phase. The price traded to a low of USD 26,000, meaning we held the USD 23,897 support, resulting in the futures moving higher. The moving averages are now flat indicating a lack of trend in the market, …

Continue reading “A Room with a Technical View 11/07/22”

Iron Ore DCE September Daily Technical Review 11/07/22

Verdict – Short-term neutral.   DCE iron ore September retreated following the general correction of commodities, however return to its independent logic in the last trading hour and recovered some losses. Iron ore gained support on 722.5 area, which became the first support. Hourly slow stochastic KD potentially create gold cross above overbought area. Hourly …

Continue reading “Iron Ore DCE September Daily Technical Review 11/07/22”

Daily Virtual Steel Mill Report 11/07/22

Market Verdict on Iron Ore： • Neutral.   Macro • Chinese CPI in June up 2.5%, up 0.4% from May, refreshed the highest since August. PPI up 6.1% in June, down 0.3% from May, created eight months consecutive drop. • U.S. strong June job statistic supported the 75 basis points of interest rate increase in …

Continue reading “Daily Virtual Steel Mill Report 11/07/22”

Iron Ore Price Drops As Covid Cases Spike Again In Shanghai 11/07/22

Iron Ore Extends Losses as Shanghai Outbreak Spurs Demand Fears   Iron ore dropped again after a weekly decline as new virus flare-ups in China hurt the demand outlook. Prices of the steel-making material have plunged by about a third in the past four months in Singapore. They are under renewed pressure after Covid-19 cases …

Continue reading “Iron Ore Price Drops As Covid Cases Spike Again In Shanghai 11/07/22”