Iron ore futures dipped after three consecutive days of gains, despite a rally in morning session as market participants were concerned over slower steel demand. The futures of Dalian Commodity Exchange (DCE) for January delivery then dropped by 3.45% day-on-day or down RMB 21.50 to RMB 601/mt, during the day trading session on Thursday. The …
Tag archives: IO62
Iron Ore DCE May Daily Technical Review 02/12/21
Verdict – Short-term neutral. DCE iron ore May22 contract created a 25.78% growth counted from the low of Nov 19th to the high of Dec 2nd. However iron ore dumped during the last hour with expanding volume compared to previous afternoon session. A recovery on 644.0 would only bring iron ore to a slow growth …
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Daily Virtual Steel Mill Report 2/12/21
Market Verdict on Iron Ore： · Neutral to bullish. Macro · OECD change the global economy growth rate prediction from 5.7% to 5.6%. In addition, OECD also decrease the growth outlook in U.S. and Euro zone this year and next year. · Fed Beige Book: in October and early November, economic activity in most fed …
Daily DCE Review 1/12/21
Iron ore futures rose for the third consecutive trading day, despite poor economic data indicating slowdown of manufacturing activities in China. The futures of Dalian Commodity Exchange (DCE) for January delivery then rose by 1.63% day-on-day or up RMB 10 to RMB 624/mt, during the day trading session on Wednesday. The rebar futures also followed …
Daily DCE Review 30/11/21
Iron ore futures rose for second consecutive trading day of the week, due to better restocking demand among steel mills. The futures of Dalian Commodity Exchange (DCE) for January delivery then rose by 2.44% day-on-day or up RMB 14.50 to RMB 609.50/mt, during the day trading session on Tuesday. The rebar futures also followed the …
Daily DCE Review 29/11/21
Iron ore futures rallied at the start of the week, due to market optimism on mills’ ramping up steel production in December. The futures of Dalian Commodity Exchange (DCE) for January delivery then rose by 4.77% day-on-day or up RMB 28 to RMB 614.50/mt, during the day trading session on Monday. The rebar futures, however …
Daily DCE Review 26/11/21
Iron ore futures fell after a series of bullish run, as market sentiment turned bearish due to output restriction measures aimed to improve air quality. The futures of Dalian Commodity Exchange (DCE) for January delivery then plunged by 6.65% day-on-day or down RMB 41 to RMB 575.50/mt, during the day trading session on Friday. The …
Daily DCE Review 25/11/21
Iron ore futures extended bullish run over higher steel output and prices that drove improvement in steel margins. The futures of Dalian Commodity Exchange (DCE) for January delivery then rose by 1.83% day-on-day or up RMB 11 to RMB 611.50/mt, during the day trading session on Thursday. The rebar futures also increased by 0.86% day-on-day …
Iron Ore DCE Jan Daily Technical Review 25/11/21
Verdict – Short-term neutral. DCE iron ore Jan22 maintained bullish from last night session however retreated during the Asian day session. Iron ore aggregated open interest also narrowed for the two consecutive trading days. Hourly slow stochastic KD created dead cross in overbought area. Hourly CCI retreated to neutral area from a previous bullish territory. …
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Daily Virtual Steel Mill Report 25/11/21
Market Verdict on Iron Ore： · Neutral. Macro · China PM Li Keqiang and state council held a conference request to accelerate issuance of specialized debts in the coming year. · U.S. FOMC notes revealed a flexible date on the interest rate raise. · Indonesia president indicated the country potential stop exporting in the year …