Tag archives: IO

Daily Virtual Steel Mill Report 10/12/21

Market Verdict on Iron Ore： ·           Neutral to bearish. Macro ·           U.S. previous week initial jobless claim reached 184,000, created the lowest since the year 1969. Estimated 220,000, last 222,000. ·            China central bank decided to increase foreign exchange deposit reserve rate from 7% to 9%, to hedge the appreciation risk of Chinese Yuan, CNH …

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Daily DCE Review 10/12/21

Iron ore futures dropped amid market uncertainty over winter stocking activities and slow steel demand. The futures of Dalian Commodity Exchange (DCE) for January delivery then dipped slightly by 0.70% day-on-day or down RMB 4.50 to RMB 639.50/mt, during the day trading session on Friday. The rebar futures also went down slightly by 0.25% day-on-day …

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Daily DCE Review 9/12/21

Iron ore futures retreated into losses after steady gains for the week, as trade participants found misalignment between the recent paper rally and the lacklustre physical market. The futures of Dalian Commodity Exchange (DCE) for January delivery then decreased by 3.17% day-on-day or down RMB 21 to RMB 642.50/mt, during the day trading session on …

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Iron Ore DCE May Daily Technical Review 09/12/21

Verdict – Short-term neutral to bearish. DCE iron ore May22 contract started a short-run correction after breakdown the import support around 644.0- 645.0. However currently become neutral and in the phase of testing low. A breakdown on 632.0 would indicate a mid-run correction start. Hourly CCI correct fast from bullish territory to bearish territory from …

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Daily Virtual Steel Mill Report 9/12/21

Market Verdict on Iron Ore： ·         Neutral. Macro ·         China PBOC RRR released four positive signals including the stable economy growth, hedge the downside risk of economy, create a beneficial monetary environment for enterprises and indicate a manageable liquidity policy. ·         The two parties of U.S. reached a consensus to increase the maximum debt ceiling …

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