Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China National Bureau of Statistics: Excavators production in July 18,357 sets, down 18.4% y-o-y. Jan-Jul total produced 232,633 sets, up 22.7% y-o-y. The year on year growth rate has decrease for consecutive four months. · 500 concrete companies in China indicated last week …
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Daily DCE Review 19/8/21
Iron ore futures slumped further on lower steel demand, amid heavy buildup of iron ore stocks across the value chain. The futures of Dalian Commodity Exchange (DCE) for September delivery then plunged by 7.18% day-on-day or down RMB 59 to RMB 762.50/mt, during the day trading session on Thursday. The rebar futures, also dropped by …
Iron Ore DCE Jan Daily Technical Review 19/8/21
Verdict – Short-term neutral to bearish. DCE iron ore January contract opened low and generated a normal gap, iron ore also broke resistance at 777.5, however supported by major 750- 759.0 area. The significant increasing volume and the slight recover during last two hours were indicating iron ore potentially oversold in short-run. Hourly slow stochastic …
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Daily Virtual Steel Mill Report 19/8/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · U.S. FOMC notes indicated to decrease QE within the year 2021. The attendee of the conference said the inflation was caused by labor and supply chain shortage, which was temporarily. However the cost increase by supply chain breakdown was beyond expectation. The new …
Daily DCE Review 18/8/21
Iron ore futures fell further over subdued steel demand and low restocking activities among mills. The futures of Dalian Commodity Exchange (DCE) for September delivery then fell by 3.73% day-on-day or down RMB 31.50 to RMB 813/mt, during the day trading session on Wednesday. The rebar futures, also dropped by 3.71% day-on-day or RMB 198 …
Iron Ore DCE Jan Daily Technical Review 18/8/21
Verdict – Short-term neutral to bearish. DCE iron ore January contract confirmed the bearish trend during this Tuesday and Wednesday. Firstly iron ore broke down the important previous support at 814.0 area, the push back after then was not strong enough to bring a higher closing above 814.0. Hourly MACD widened below 0 axis. CCI …
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Daily Virtual Steel Mill Report 18/8/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · U.S. Federal officials reached agreement that potentially exit part of monetary ease policy in three months if economy presenting positive signs in future. · U.S. Treasury Secretary Yellen said the Biden’s infrastructure and social projects expending bill was the “most important economy projects” …
Daily DCE Review 17/8/21
Iron ore futures dipped at the session close, due to weak market outlook and extension of production cuts to other Chinese regions. The futures of Dalian Commodity Exchange (DCE) for September delivery then fell by 1.59% day-on-day or down RMB 13.50 to RMB 834/mt, during the day trading session on Tuesday. The rebar futures, also …
Daily DCE Review 16/8/21
Iron ore futures opened high at the start of the week, recovering ground from previous slump last week, as restocking activities picked up among mills. The futures of Dalian Commodity Exchange (DCE) for September delivery then rose by 2.29% day-on-day or up RMB 19 to RMB 850.50/mt, during the day trading session on Monday. The …
Iron Ore DCE Jan Daily Technical Review 16/8/21
Verdict – Short-term neutral to bullish, potentially test high in next trading session. DCE iron ore January rebounded slightly following the previous prediction indicating oversold. The previous two day rebound with big volume however limited growth, indicated the rebound has some confliction. The short-run roof was close to 860.5 area, from hourly chart iron ore …
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