Market Verdict on Iron Ore： · Neutral to bullish. Macro · IMF indicated that supply chain disrupt potentially extend the expectation of inflation in some places of the world. · Major economies government revealed that they are currently researching on release crude oil. Previously U.S. indicated to coordinate to cool down global energy prices. Iron …
Tag archives: IO62
Daily DCE Review 19/11/21
Iron ore futures rebounded from losses, as market were pushing for high levels despite negative steel margins. The futures of Dalian Commodity Exchange (DCE) for January delivery then rose by 2.49% day-on-day or up RMB 13 to RMB 536/mt, during the day trading session on Friday. The rebar futures also inched up by 2.15% day-on-day …
Iron Ore DCE Jan Daily Technical Review 18/11/21
Verdict – Short-term neutral. DCE iron ore Jan22 started to consolidate weakly after refreshed listed low during today. Major previous support become resistance at 531.0 level after breakdown. Hourly slow stochastic KD retreated to bearish territory. Hourly MACD deepened below 0 axis. Short-run signals were indicating a neutral sentiment in this market. The first support …
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Daily Virtual Steel Mill Report 18/11/21
Market Verdict on Iron Ore： · Neutral. Macro · Reuters: Biden government seek the top oil producing countries to release some crude oil reserves to help decrease oil price and stimulate economy booming. Iron Ore Key Indicators: · Platts62 $89.95, -0.45, MTD $93.45. Iron ore seaborne market gradually return stable during the week, as several …
Daily DCE Review 18/11/21
Iron ore futures closed in negative regions, despite a late morning rally to push prices higher, amid thin steel margins environment. The futures of Dalian Commodity Exchange (DCE) for January delivery then fell by 5.10% day-on-day or down RMB 27.50 to RMB 511.50/mt, during the day trading session on Thursday. The rebar futures also inched …
Daily DCE Review 17/11/21
Iron ore futures rallied from previous trading day slump, but slipped at the close, amid bearish market sentiment on steel demand. The futures of Dalian Commodity Exchange (DCE) for January delivery then fell by 1.01% day-on-day or down RMB 5.50 to RMB 538.50/mt, during the day trading session on Wednesday. The rebar futures …
Iron Ore DCE Jan Daily Technical Review 17/11/21
Verdict – Short-term neutral. DCE iron ore Jan22 consolidated in narrow range for the previous 11 trading days. Hourly MACD potentially create a gold cross below 0 axis. Hourly slow stochastic KD rebounded. The market has significant support arround 530.0 area. Short-run a push with volume potenially trigger a big round of oversold rebound. 5 …
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Daily Virtual Steel Mill Report 17/11/21
Market Verdict on Iron Ore： · Neutral. Macro · European statistic bureau: 19 member countries at Euro Zone economy growth rate up 3.75 compared to Q3 of last year, indicated a strong recover after the pandemic. · China and U.S. internet conference revealed a friendly signal of the trades and relations between the two countries …
Weekly Virtual Steel Margin Report 16/11/21
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Daily DCE Review 16/11/21
Iron ore futures suffered a sharp fall just the close at the morning session, then moved flattish at the afternoon session amid thin steel margins and falling steel prices. The futures of Dalian Commodity Exchange (DCE) for January delivery then fell by 1.10% day-on-day or down RMB 6 to RMB 540/mt, during the day …