Tag archives: IO

Daily DCE Review 4/5/21

Iron ore futures came to a standstill following holidays season in China, despite gains in steel billet prices. Tangshan billet prices then rose by RMB 30 on-day to RMB 5,040/mt on Tuesday, May 4 after billet prices stabilized under the RMB 5,000/mt level since end-April.   Billet margins soar to record high level     Chinese …

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Iron Ore DCE Sep Daily Technical Review 30/4/21

Verdict – Short-term neutral to bearish. DCE iron ore September contract retreated as previous long taking gains before Labor Day holiday. However market needs further confirmation on the reversal, unless a breakdown on important support on 1083.0 level. Hourly slow stochastic KD narrowed near oversold area. Hourly CCI flattened. Technical signals were indicating the correction …

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Daily Virtual Steel Mill Report 30/4/21

Market Verdict on Iron Ore： ·         Iron ore neutral. Macro： ·         U.S. Q1 GDP growth rate at 6.4%, higher than 6.1% expected. Iron Ore Key Indicators: ·         Platts62 $190.45, unch, MTD $179.29. Corex PBF yesterday traded with a $6 premium based on June Index, which was unchanged to the day before. However miner traded a …

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Iron Ore DCE Sep Daily Technical Review 29/4/21

Verdict – Short-term neutral. DCE iron ore September contract consolidated as previous expected in wide range with increasing volume and smaller open interest because of approaching Labor Day. However hourly stochastic KD created dead cross. Hourly MACD widened below 0 axis. Iron ore currently has no clear trend within the range box of 1110.5 – …

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Daily Virtual Steel Mill Report 29/4/21

Market Verdict on Iron Ore： ·         Iron ore neutral. Macro ·         U.S. federal maintained the interest rate between 0-0.25% unchanged, in line with market expectation. Powell announced that Federal will seek financial facilities to decrease inflation rate if inflation goes beyond 2%. Iron Ore Key Indicators: ·         Platts 62%: $190.45 (-3.40) MTD $178.70. Port market …

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Iron Ore DCE Sep Daily Technical Review 28/4/21

Verdict – Short-term neutral. DCE iron ore September contract tested low in night session and rebounded during day session. Hourly slow stochastic KD created dead cross near overbought area and then flattened. Hourly CCI rebounded from -100 area. 1166.0 level has become a significant resistance level during current two days. The major support from 1113.0- …

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