Iron ore futures extended gains on Wednesday session, improving from previous trading day position, despite mixed market outlook. The futures of Dalian Commodity Exchange (DCE) for September delivery then increased by 1.90% day-on-day or up RMB 15 to RMB 802.50/mt, during the day trading session on Wednesday. The rebar futures also inched up slightly by …
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Iron Ore DCE Jan Daily Technical Review 25/8/21
Verdict – Short-term neutral. DCE iron ore January contract correct slightly during the day. Hourly stochastic KD created dead cross in the second hour of this Asian morning. CCI corrected for consecutive 6 hours. Hourly MACD also flattened. However daily MACD potentially create gold cross. The short-run and mid-run technical signals were conflicting at the …
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Daily Virtual Steel Mill Report 25/8/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · From January to July, China issued 3997.9 billion yuan of local government bonds, a year-on-year increase of 6.37%. In July, the country issued 656.8 billion yuan of local government bonds. About 50% of the new special bonds issued by local governments from January …
Daily DCE Review 24/8/21
Iron ore futures rose on Tuesday morning session, rebounded from previous losses seen last week, as market sentiment improved. The futures of Dalian Commodity Exchange (DCE) for September delivery then increased by 6.17% day-on-day or up RMB 47.50 to RMB 817.50/mt, during the day trading session on Tuesday. The rebar futures also rose by 2.39% …
FIS Weekly Virtual Steel Margin Report 24/08/2021
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Daily DCE Review 21/8/21
Iron ore futures moved flatly on Monday day session, and dipped at session close, following previous week of trading losses. The futures of Dalian Commodity Exchange (DCE) for September delivery then dropped by 1.05% day-on-day or down RMB 8 to RMB 757/mt, during the day trading session on Monday. The rebar futures, however rose by …
Iron Ore DCE Jan Daily Technical Review 23/8/21
Verdict – Short-term neutral. DCE iron ore January contract gave back most of gains created by last Friday. Hourly MACD weakened. Hourly slow stochastic KD created dead cross below overbought area. Hourly CCI corrected to bearish area from bullish area fast. The short support 735.0 was strong, which used to create a market reversal. However …
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Daily Virtual Steel Mill Report 23/8/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · U.S. Dollar reached the highest since last November on last Friday. Dollar entered a strong cycle. Iron Ore Key Indicators: · Platts 62% 139.10 (+8.90), MTD 163.36. · Jan -Jul China recycled iron and steel imported 420,500 tonnes. Major import from Japan. SGX …
Ferrous trade weekly review 20/8/21
A total of 950,000 mt of iron ores was traded for the week ended Aug 20, up 25% week-on-week, after a week of price corrections. Iron ore prices continued their correction phrase this week, to the extent of sharp drop to $130.20/mt under Platts assessment of the 62% Fe Iron Ore Index. During the week, …
Daily DCE Review 20/8/21
Iron ore futures inched up for slight gain at day session close, despite experiencing a good rebound at the morning session after a week of trading losses. The futures of Dalian Commodity Exchange (DCE) for September delivery then rose slightly by 0.26% day-on-day or up RMB 2 to RMB 777.50/mt, during the day trading session …