Market Verdict on Iron Ore： · Neutral. Macro · China PM Li Keqiang held conference to punish illegal speculation on coal market and prevent the price transmission from commodities to downstream, and avoid cost increasing on mid-small capital company. · China Zhejiang Province downgrade the electricity consumption level from C to B, indicating the power …
Tag archives: IO62
Daily DCE Review 21/10/21
Iron ore futures dipped at the close, despite opening higher at the start of the morning session due to market uncertainty over steel demand. The futures of Dalian Commodity Exchange (DCE) for January delivery then tanked by 8.70% day-on-day or down RMB 8.70 to RMB 650.50/mt, during the day trading session on Thursday. The rebar …
Daily DCE Review 20/10/21
Iron ore futures saw slight gains, amid bearish market outlooks on reduced steel output and slow economic activities. The futures of Dalian Commodity Exchange (DCE) for January delivery then inched up slightly by 0.50% day-on-day or up RMB 3.50 to RMB 710/mt, during the day trading session on Wednesday. The rebar futures however, dropped by …
Iron Ore DCE Jan Daily Technical Review 20/10/21
Verdict – Short-term neutral. DCE iron ore January contract tested high at 733.5 again and rejected. Iron ore overall became slight higher than previous trading day. Hourly MACD and slow stochastic both flattened. Hourly CCI entered bullish territory. Technical signals were indicating the price movement were slow and stable currently. The first support is 698.0, …
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Daily Virtual Steel Mill Report 20/10/21
Market Verdict on Iron Ore： · Neutral. Macro · China central bank PBOC held a housing and financial market conference to guide major banks managing the housing related finance and maintain a stable and healthy housing market. Evergrande default risk and spillover was in general controllable. · China National Bureau of Statistics: Q3 GDP up …
Daily DCE Review 19/10/21
Iron ore futures rebounded from recent losses, due to lower shipments from miners based in Australia and Brazil. The futures of Dalian Commodity Exchange (DCE) for January delivery then inched up slightly by 0.07% day-on-day or up RMB 0.50 to RMB 707/mt, during the day trading session on Tuesday. The rebar futures also rose by …
Weekly Virtual Steel Margin Report 19/10/2021
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Iron Ore DCE Jan Daily Technical Review 18/10/21
Verdict – Short-term neutral. DCE iron ore January contract tested monthly low and recover fast to neutral area. If a new breakdown on the low of 686.0, iron ore potentially return to bear market in mid-run. Hourly iron ore was stuck in a correction phase because the highs of the descending tunnel were becoming lower. …
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Daily Virtual Steel Mill Report 18/10/21
Market Verdict on Iron Ore： · Neutral. Macro · China central bank PBOC held a housing and financial market conference to guide major banks managing the housing related finance and maintain a stable and healthy housing market. Evergrande default risk and spillover was in general controllable. · China National Bureau of Statistics: Q3 GDP up …
Daily DCE Review 18/10/21
Iron ore futures extended losses on poor China economic data, which showed a slowdown in industrial activities, due to power crunch. The futures of Dalian Commodity Exchange (DCE) for January delivery then fell by 2.27% day-on-day or down RMB 16.50 to RMB 711/mt, during the day trading session on Monday. The rebar futures also inched …