Iron Ore DCE May Daily Technical Review 21/3/22

Verdict – Short-term neutral. DCE iron ore May22 contract re-entered into a consolidation range in short-run. After a spike at Friday night and a test low in Monday morning, iron ore finally closed near the open level at Friday night. May-Sep22 spread started to narrow, when major contract rolling started from last week. Front month …

Daily Virtual Steel Mill Report 21/3/22

Market Verdict on Iron Ore: • Neutral.   Macro • China and U.S. held an internet conference during the tight worldwide political conditions in the first quarter of the year 2022. Although both countries have different views on the Russia-Ukraine war, however both countries thought the talk was “constructive” and mentioned to improve the cooperation …

Ferrous Trade Weekly Review 18/03/22

A total of 540,000 mt of iron ores was traded for the week ended Mar 18, after a long pause of minimal trades due to Chinese market regulator crackdown on false price information. There was also more steel production following the removal of output curbs after the Two Sessions meeting and Paralympic events During the …

Iron Ore DCE May Daily Technical Review 18/3/22

Verdict – Short-term neutral. DCE iron ore May22 contract rebounded during the open over night session, however consolidate around 830.0 area for most of time in the day session. A breakthrough on 838.5 would indicate a new round of spike. Hourly CCI potentially drop from the bullish territory. Hourly slow stochastic KD flattened in an …

Daily Virtual Steel Mill Report 18/3/22

Market Verdict on Iron Ore: • Neutral. Macro • BOE raised interest rate by 25 basis point to 0.75% as expected. The lending cost recovered to pre-pandemic level. Q2 inflation rate raise from 7.25% to 8%. • China Ministry of Industry and Information Technology: promote more strategies to support stablised economy growth. Become prudent on …