Market Verdict on Iron Ore： · Neutral. Macro · U.S. Markit Manufacturing PMI September 60.5, last 61.1. · Concrete on housing utilization rate slumped compared to the year 2020 in China, since several default on housing companies. The 500 sample concrete companies utilization rate at 19.39%, down 6.39% y-o-y. Iron Ore Key Indicators: · Platts …
Tag archives: IO62
Daily DCE Review 23/9/21
Iron ore futures booked more gains as restocking activities increased in preparation for the upcoming Golden week holidays in October. The futures of Dalian Commodity Exchange (DCE) for January delivery then rose by 3.89% day-on-day or up RMB 25 to RMB 667/mt, during the day trading session on Thursday. The rebar future also jumped up …
Daily DCE Review 22/9/21
Iron ore futures rallied at the day session, as trade participants returned from the long public holidays in China. The futures of Dalian Commodity Exchange (DCE) for January delivery then rose by 3.72% day-on-day or up RMB 24 to RMB 668.50/mt, during the day trading session on Wednesday. The rebar future also jumped up by …
Iron Ore DCE Jan Daily Technical Review 22/9/21
Verdict – Short-term bullish. DCE iron ore January contract ended the consecutive losses over the previous eight trading days and created a 10% increase from the opening of the day. Hourly MACD created gold cross. Hourly slow stochastic KD started to push after created gold cross in oversold area. Hourly CCI rebounded from bearish territory …
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Daily Virtual Steel Mill Report 22/9/21
Market Verdict on Iron Ore： · Neutral. Macro · OECD predicted that the global economic increase at 5.7% in the year 2021, G20 growth rate at 6.1%, down 0.1% and 0.2% respectively from the last expectation in May. China growth rate at 8.5% in the year 2021, and 5.8% in the year 2022, unchanged from …
Daily DCE Review 20/9/21
Dalian Commodity Exchange (DCE) is closed for public holidays in China, before reopening in Sep 22. The long break could not hide the growing bearish market sentiment as iron ore prices slid toward the $100/mt mark, after a series of price corrections for last 4-5 weeks. More corrections might follow after the holidays as China’s …
Ferrous trade weekly review 17/9/21
A total of 680,000 mt of iron ores was traded for the week ended Sep 17, down 19.05% on-week, amid price correction phrase for iron ore. Restocking of iron ore failed to pick up for the week, which typically will see more iron ore procurement ahead of the Golden week in early October. During the …
Daily DCE Review 17/9/21
Iron ore futures extended losses at the day session, despite lower steel stocks recorded by Chinese traders. The futures of Dalian Commodity Exchange (DCE) for January delivery then fell by 6.95% day-on-day or down RMB 47 to RMB 629/mt, during the day trading session on Friday. The rebar future also dropped by 2.25% day-on-day or …
Iron Ore DCE Jan Daily Technical Review 17/9/21
Verdict – Short-term neutral to bearish. DCE iron ore January contract refreshed listed low during the day with increasing volume. The hourly MACD narrowed in bearish territory. Hourly Slow stochastic KD flattened. Hourly CCI potentially leave oversold area to neutral area. Technical signals indicated and exhaustion on the previous short, however the current trend was …
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Daily Virtual Steel Mill Report 17/9/21
Market Verdict on Iron Ore： · Neutral. Macro · European Central Banks announced that the media misrepresented inflation target and interest rate outlook. According to European Central Bank, Euro zone expected to reach 2% inflation rate target, indicating European central bank potential increase interest rate in the coming two years. · China Environment Bureau published …