Daily DCE Review 23/2/21

Iron ore futures opened high in the morning session, only to fall later at the afternoon session, due to steel output restriction in Tangshan. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE), then fell by 2.94% day-on-day or RMB 33.50 to RMB 1,107/mt on Tuesday. The steel rebar contract on the …

Iron Ore DCE May Daily Technical Review 22/2/21

Verdict – Short-term neutral. DCE iron ore create historical high during the first 3 minutes by Asian opening, however gave back most of gains during the day. Hourly MACD softened below 0 axis. Hourly CCI potentially create a bearish divergence with iron ore price. The after CNY iron ore growth was majorly contributed by the …