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 …
Tag archives: IO62
Daily DCE Review 8/12/21
Iron ore futures extended gains on market optimism over steel demand with better money supply to fund construction activities. The futures of Dalian Commodity Exchange (DCE) for January delivery then increased by 2.46% day-on-day or up RMB 15.50 to RMB 646/mt, during the day trading session on Wednesday. The rebar futures, however, went down by …
Daily DCE Review 7/12/21
Iron ore futures rallied on looser monetary policy, higher iron ore import figures and expectation of better economic policy plans for the next year. The futures of Dalian Commodity Exchange (DCE) for January delivery then jumped up by 8.07% day-on-day or up RMB 48 to RMB 643/mt, during the day trading session on Tuesday. The …
FIS Weekly Virtual Steel Margin Report 07/12/2021
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Daily DCE Review 6/12/21
Iron ore futures inched down at the start of the week, due to bearish market sentiment over slowing demand and new covid variant threats that affected market confidence. The futures of Dalian Commodity Exchange (DCE) for January delivery then dropped slightly by 0.42% day-on-day or down RMB 2.50 to RMB 591.50/mt, during the day trading …
Iron Ore DCE May Daily Technical Review 06/12/21
Verdict – Short-term neutral. DCE iron ore May22 contract consolidate during the day. Iron ore tested low and high during previous two trading days from 591.0- 631.0 area. The roof area was created in mid-run as 626.5- 644.0 – 631.0. However the lower support also went higher from mid-run perspective, which finally give the short-run …
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Daily Virtual Steel Mill Report 6/12/21
Market Verdict on Iron Ore： · Neutral. Macro · China PM Li Keqiang indicated in the conference last Friday that China potentially leverage interest rate decrease policy in different markets to facilitate the healthy environment of investment and liquidity for mid-small enterprises. · China Evergrande Group officially announced the inability to perform its guaranteed liability. …
Ferrous Trade Weekly Review 3/12/21
A total of 730,000 mt of iron ores was traded for the week ended Dec 3, amid thin market activity, though market participants expected more steel production in December. This was due to the relaxation of production curbs in Tangshan, though the policy may reverse soon to improve the air quality ahead of the Winter …
Iron Ore DCE May Daily Technical Review 03/12/21
Verdict – Short-term neutral. DCE iron ore May22 contract consolidate in a narrower range during the day, however iron ore created a consecutive lower lows and lower highs over the past two trading days. Hourly CCI created a bottom reversal pattern. Hourly slow stochastic KD created gold cross above oversold boundary. Technical signals were indicating …
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Daily DCE Review 3/12/21
Iron ore futures plunged further on higher port inventory, despite some improvement in daily consumption of imported iron ores. The futures of Dalian Commodity Exchange (DCE) for January delivery then dropped by 3.08% day-on-day or down RMB 19 to RMB 597/mt, during the day trading session on Friday. The rebar futures however, hiked up by …