Iron ore futures opened high at the starting session, but the upward momentum then reversed into losses at the close. The futures of Dalian Commodity Exchange (DCE) for January delivery then inched down by 0.27% day-on-day or down RMB 2 to RMB 732.50/mt, during the morning trading session on Friday. The rebar future however, rose …
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Daily DCE Review 9/9/21
Iron ore futures dipped into losses on Thursday, despite opening high at the start of the afternoon session. The futures of Dalian Commodity Exchange (DCE) then fell by 2.73% day-on-day or RMB 20.50 to RMB 730/mt, during the day trading session on Thursday. The rebar futures, however, rose by 4.47% day-on-day or RMB 243 to …
Iron Ore DCE Jan Daily Technical Review 9/9/21
Verdict – Short-term neutral. DCE iron ore January contract correct slightly. As predicted yesterday, iron ore volatile range became narrower. Luckily the support on 717.5-719.5 was strong , which successfully witnessed a V-Shape reversal twice over the previous four trading days. Stochastic indicators were all flat in hourly level. Unless a breakdown on 717.5 -719.5 …
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Daily Virtual Steel Mill Report 9/9/21
Market Verdict on Iron Ore： · Neutral. Macro · China National Development of Reform Comission: the H2 specialized local debts were issued significantly higher than previous year to stabilize the investment in infrastructure. The debts were proposed to issue earlier than expected. · New York Federal chairman Williams expected the year 2022 U.S. inflation rate …
Daily DCE Review 8/9/21
Iron ore futures managed to eke out a gain by the end of Wednesday day session, after a choppy market under selling pressure. The futures of Dalian Commodity Exchange (DCE) then inched up by 0.07% day-on-day or RMB 0.50 to RMB 747/mt, after a late rally to rebound from losses, during the day trading session …
Iron Ore DCE Jan Daily Technical Review 8/9/21
Verdict – Short-term neutral. DCE iron ore January contract tested low and recover most of losses during the day. Iron ore expected to decrease volatile range int the coming two days with decreasing volume. Hourly slow stochastic KD deepened correction after creating a dead cross below overbought area. Hourly CCI slowly corrected. Technical signals were …
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Daily Virtual Steel Mill Report 8/9/21
Market Verdict on Iron Ore： · Neutral to bearish. Macro · China Monetary Department official Sun Guofei said monetary supply was sufficient in the following months. There should be small chances to experience liquidity risk in the market. · U.K. Central Committee(MPC) Sanders indicated U.K. central bank potential to increase interest rate in next year. …
Daily DCE Review 7/9/21
Iron ore futures rallied on Tuesday, after market talks of using less coke in the blast furnace mix which might increase the usage of high grade fines. The futures of Dalian Commodity Exchange (DCE) then jumped by 1.06% day-on-day or RMB 8 to RMB 763/mt, during the day trading session on Tuesday. The rebar futures …
Weekly Virtual Steel Margin Report 07/09/2021
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Daily DCE Review 6/9/21
Iron ore futures fell on Monday, over market concerns of tightening steel outputs, despite better steel prices. The futures of Dalian Commodity Exchange (DCE) then slumped down by 6.65% day-on-day or RMB 51.50 to RMB 723/mt, during the morning trading session on Monday. The rebar futures, however went up by 1.71% day-on-day or RMB 92 …