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Tag archives: IO62
Daily DCE Review 2/10/21
Iron ore futures slumped due to winter off peak season, dropping to a year-low in view of strict production restriction and sintering curbs imposed on Chinese mills. The futures of Dalian Commodity Exchange (DCE) for January delivery then plunged by 9.95% day-on-day or down RMB 62.50 to RMB 565.50/mt, during the day trading session on …
Iron Ore DCE Jan Daily Technical Review 1/11/21
Verdict – Short-term neutral to bearish. DCE iron ore Jan contract volatile in narrow range during the day, however saw lower lows and lower highs. Iron ore was running in a descending tunnel. Hourly CCI decreased to the lowest since September 17th. Slow stochastic KD consolidate in netural range. Hourly MACD created dead cross below …
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Daily Virtual Steel Mill Report 1/11/21
Market Verdict on Iron Ore： · Neutral. Macro · China National Bureau of Statistics: China October PMI 49.2, last 49.6, est. 49.7. The second month located in the contraction area. · G20 countries drafted plan will take the maximum efforts to stop new build coal-based electricity power generating program. Iron Ore Key Indicators: · Platts …
Daily DCE Review 29/10/21
Iron ore futures continued to slide on softer steel demand, as slow consumption contributed to higher mills’ steel stocks. The futures of Dalian Commodity Exchange (DCE) for January delivery then fell by 5.56% day-on-day or down RMB 37.50 to RMB 637.50/mt, during the day trading session on Friday. The rebar futures however, rose by 0.80% …
Iron Ore DCE Jan Daily Technical Review 29/10/21
Verdict – Short-term neutral to bearish. China thermal coal futures and coking coal futures all reached limit-down which bring back a bearish sentiment on all ferrous market. Iron ore corrected and breakdown important support level around 639.0 – 643.0 and went back to descending tunnel. Hourly MACD widened below 0 axis. Hourly CCI went into …
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Daily Virtual Steel Mill Report 29/10/21
Market Verdict on Iron Ore： · Neutral. Macro · China CCTV news: U.S. trade representative Katherine Tai seek to ease trade relations with China in a U.S. poultry conference. · U.S. Q3 GDP up 2% y-o-y, Q2 up 6.7%. The slowing down on GDP growth rate was far beyond expectation. Iron Ore Key Indicators: · …
Daily DCE Review 28/10/21
Iron ore futures continued to move downtrend on lower steel, despite a late rally at the afternoon session to regain some lose grounds. The futures of Dalian Commodity Exchange (DCE) for January delivery then fell by 2.36% day-on-day or down RMB 16.50 to RMB 683.50/mt, during the day trading session on Thursday. The rebar futures …
Iron Ore DCE Jan Daily Technical Review 28/10/21
Verdict – Short-term neutral. DCE iron ore January contract tested low in Asian morning however recover most of losses during this afternoon. The contract created a monthly low. However the quick rebound on the low indicated iron ore was not ready to test low in following sessions. Hourly KD created gold cross. Hourly CCI went …
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Daily Virtual Steel Mill Report 28/10/21
Market Verdict on Iron Ore： · Neutral. Macro · China PM Liu He had a video conference with U.S. Treasury Secretary Yellen. The conference revealed the expectation on tax exemption. · China state council issued details on emission peak. At the year 2030, China non-fossil energy expecting to reach 25% of whole energy usage. · …