Iron ore futures extended the rally from last week, benefiting from the restocking activities and stable steel prices. The futures of Dalian Commodity Exchange (DCE) for January delivery then rose by 3.53% day-on-day or up RMB 24 to RMB 703/mt, during the day trading session on Monday. The rebar future also hiked up by 0.96% …
Tag archives: IO
Iron Ore DCE Jan Daily Technical Review 27/9/21
Verdict – Short-term neutral to bullish. DCE iron ore January contract maintained rebound during the day. From daily chart, MA5 and MA10 potentially create gold cross in the following two trading days. From hourly chart slow stochastic created a dead cross on the boundary of overbought area. If a breakthrough on major resistance at 715.0, …
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Daily Virtual Steel Mill Report 27/9/21
Market Verdict on Iron Ore： · Neutral. Macro · Guangdong Province, China appealed to stop electricity usage in low floors. Liaoning province electricity supply triggered serve shortage level because of the sudden decrease on wind power. Inner Mongolia started to stop operation in 6 out of 11 steel mills. Iron Ore Key Indicators: · Platts62 …
European Close 24/09/21
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London Iron Ore Market Report 24/09/21
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Ferrous trade weekly review 24/9/21
A total of 750,000 mt of iron ores was traded for the week ended Sep 24, up 10.3% on-week, amid better restocking activities. Restocking of iron ore stepped up pace as Chinese trade participants returned from public holidays, while they started to replenish stocks to prepare for another week-long holiday period in early October. During …
Oil and Ore Intraday Morning Technical 24/09/21
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Daily DCE Review 24/9/21
Iron ore futures continued to book gains on increased restocking activities, ahead of coming long holidays in October. The futures of Dalian Commodity Exchange (DCE) for January delivery then rose by 2.47% day-on-day or up RMB 16.50 to RMB 684.50/mt, during the day trading session on Friday. The rebar future also dropped by 2.83% day-on-day …
Iron Ore DCE Jan Daily Technical Review 24/9/21
Verdict – Short-term neutral. DCE iron ore January contract slight rebound but in general neutral, as expected yesterday. Hourly slow stochastic KD was brewing a breakthrough on the lower bound of overbought territory. Hourly CCI was testing the support on the lower bound of bullish territory. However from daily chart, MACD created gold cross. Daily …
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Daily Virtual Steel Mill Report 24/9/21
Market Verdict on Iron Ore： · Neutral. Macro · U.S. Markit Manufacturing PMI September 60.5, last 61.1. · Concrete on housing utilization rate slumped compared to the year 2020 in China, since several default on housing companies. The 500 sample concrete companies utilization rate at 19.39%, down 6.39% y-o-y. Iron Ore Key Indicators: · Platts …