Tag archives: IO

Daily Virtual Steel Mill Report 01/07/22

Market Verdict on Iron Ore： • Neutral.   Macro • Opec and Non-Opec oil production countries decided to increase 648,000 barrels of crude oil production in August. • Global central banks revealed that inflation control was the most important thing although the process potentially eliminate the economy growth.   Iron Ore Key Indicators: • Platts62 …

Continue reading “Daily Virtual Steel Mill Report 01/07/22”

China June Steel PMI Hits Decade Low Amid High Inventory 01/07/22

China’s steel industry purchasing manager’s index for June hit its lowest level in over a decade, with the government’s pledge to go all-in on infrastructure spending to rescue the economy yet to register with producers. The steel PMI tumbled to 36.2, deep in contraction, with new orders plummeting to 25.9, according to official figures released …

Continue reading “China June Steel PMI Hits Decade Low Amid High Inventory 01/07/22”

Iron Ore DCE September Daily Technical Review 30/06/22

Verdict – Short-term neutral to bullish.   DCE iron ore September contract broke down important support at 790.0. Daily high was also resisted by previous resistance area arround 819.5- 822.5. Hourly MACD created dead cross. Hourly slow stochastic KD corrected after creating a dead cross in overbought area. Hourly CCI approached bearish territory. Technical signals …

Continue reading “Iron Ore DCE September Daily Technical Review 30/06/22”

Daily Virtual Steel Mill Report 30/06/22

Market Verdict on Iron Ore： • Neutral.   Macro • Reuters: a market source indicated that G7 has initiated talks with China and India regarding to the price ceiling on crude oil from Russia. • China June official PMI 50.2, est. 50.5, last 49.6.   Iron Ore Key Indicators: • Platts 62%: $123.20 (-1.80) MTD …

Continue reading “Daily Virtual Steel Mill Report 30/06/22”