Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · The U.S. Senate voted 69 to 30 to approve the $1 trillion cross-party base establishment bill, which includes $550 billion in new infrastructure funding project. · China Ministry of Finance: building fiscal and tax policies to promote green and low-carbon development, will support …
Tag archives: IO62
FIS Weekly Virtual Steel Margin Report 10/08/2021
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Iron Ore DCE Jan Daily Technical Review 9/8/21
Verdict – Short-term neutral. DCE iron ore January contract corrected over Friday night session and the day session of Monday. However the trading volume decreased and rebounded during most of the day session on Monday. A further breakdown on daily low at 845.0 with small trading volume would indicated a new round of slump. Hourly …
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Daily Virtual Steel Mill Report 9/8/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China National Bureau of Statistics: July CPI up 1% from June, up 0.3% y-o-y. July PPI up 9% y-o-y, from 0.5% from August. Jan- July Manufacturing ex-work price up 5.7% y-o-y, Manufacturing purchase price up 7.9% y-o-y. Iron Ore Key Indicators: · Platts …
Ferrous Trade Weekly Review 6/8/21
A total of 750,000 mt of iron ores was traded for the week ended Aug 6, up 27.12% week-on-week, amid stringent steel output cuts being implemented. Tangshan underwent a new round of sintering cuts much to the expectation of market participants, while iron ore prices ended its anti-gravity defying act and stayed under the $185/mt …
Daily DCE Review 6/8/21
Iron ore futures opened higher from previous day slump, but only managed a slight recovery at the close, due to lower steel consumption in China. The futures of Dalian Commodity Exchange (DCE) for September delivery then dropped by 1.27% day-on-day or down RMB 11.50 to RMB 895/mt, during the day trading session on Friday. The …
Daily Virtual Steel Mill Report 6/8/21
Market Verdict on Iron Ore： · Iron ore neutral. Macro · IMF: global economic growth will reach 6% in 2021, which is a high forecast and the highest global growth rate in the past few decades. · New Typhoon landed in southern China, which will impact four southern provinces with heavy rain for the coming …
Daily DCE Review 5/8/21
Iron ore futures fell to two-month low on the day session, after a selloff from sluggish steel consumption. The futures of Dalian Commodity Exchange (DCE) for September delivery then slumped by 4.72% day-on-day or down RMB 44 to RMB 888.50/mt, during the day trading session on Thursday. The rebar futures, however moved flatly and inched …
Iron Ore DCE Jan Daily Technical Review 5/8/21
Verdict – Short-term neutral to bearish. DCE iron ore September rolled to January during this week. The big correction with greater volume during a rolling period indicated major investors were slight bearish in the after market of iron ore. Hourly chart candles entered stable over the afternoon session. A hold up on 873.0 level would …
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Daily Virtual Steel Mill Report 5/8/21
Market Verdict on Iron Ore： · Iron ore short-run neutral to bearish. Macro · U.S. July Markit service PMI 59.9, est. 59.8, last 59.8. Composite PMI 59.9, last 59.7. · The three departments of China encouraged four kinds of household appliance manufacturers such as TV sets, refrigerators, washing machines and air conditioners to carry out …