Daily Virtual Steel Mill Report 15/4/22

Market Verdict on Iron Ore: • Neutral.   Macro • China Central Bank held a press conference on financial statistics in the first quarter of 2022. Sun Guofeng, director of the Monetary Policy Department said that monetary policy tools such as RRR reduction should be used in a timely manner to further strengthen financial support …

Iron Ore DCE September Daily Technical Review 14/4/22

Verdict – Short-term neutral. DCE iron ore September contract tested high and rejected by 909.0. Both trading volume and open interest were thin compared to last 5 trading days. From hourly chart, MACD created gold cross. Hourly slow stochastic KD also created gold cross above overbought area in late morning. Technical signaling a potential to …

Daily Virtual Steel Mill Report 14/04/22

Market Verdict on Iron Ore: • Neutral.   Macro • China PM Li Keqiang presided over the executive meeting of the State Council, made timely use of monetary policy tools such as RRR reduction, further strengthened financial support for the real economy, especially industries seriously affected by the epidemic, small, medium-sized and micro enterprises and …

Daily Virtual Steel Mill Report 13/04/22

Market Verdict on Iron Ore: • Neutral to bearish.   Macro • Experiencing the significant price increase on thermal coal and iron ore, China Disipline Inspection Comission urged the committee of the CSRC and DCE to earnestly fulfill their supervision responsibilities and potential risks of the commodity futures market, improving internal governance and effectively maintain …

Iron Ore DCE September Daily Technical Review 12/04/22

Verdict – Short-term neutral to bullish. DCE iron ore September contract rebounded massively and recovered the loss of yesterday. The active contract however created lower volume over the last three trading days. In short-run hourly candles entered a resisting area around 925.0 – 928.0. A rejection would indicate a potential correction. However an effective breakthrough …