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 …
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Iron Ore DCE Sep Daily Technical Review 4/8/21
Verdict – Short-term neutral. DCE iron ore September re-entered into a new consolidation area in the first few trading days of August. Hourly MACD expanded above 0 axis. Hourly slow stochastic KD rebounded. A continuance of rebound need a confirm to break 1077.0, however the resistance around 1100.0 was significant. Short-run consolidation in narrowing range. …
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Daily Virtual Steel Mill Report 4/8/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China Caixin July PMI 54.9, est. 50.5, last 50.3. · China Automobile Association: China July Automobile sales 1.82 million, down 9.7% m-o-m, down 13.8% y-o-y. · Since the end of July, China weather has gradually improved, the local market demand has recovered rapidly, …
Daily DCE Review 4/8/21
Iron ore futures inched up slightly for the second consecutive day of gains, amid mixed market outlooks over steel output cuts. The futures of Dalian Commodity Exchange (DCE) for September delivery then went up by 0.52% day-on-day or up RMB 5.50 to RMB 1,067/mt, during the day trading session on Wednesday. The rebar futures also …
Daily DCE Review 3/8/21
Iron ore futures rebounded from previous slump and gained higher upon market expectation of less stricter output curbs and lower iron ore shipments from suppliers. The futures of Dalian Commodity Exchange (DCE) for September delivery then went up by 1.97% day-on-day or up RMB 20.50 to RMB 1,062.50/mt, during the day trading session on Tuesday. …
FIS Weekly Virtual Steel Margin Report 03/08/2021
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Daily DCE Review 2/8/21
Iron ore futures dipped slightly at the start of the new month, following market bearish sentiments on lower steel demand and poor economic indicators. The futures of Dalian Commodity Exchange (DCE) for September delivery then dipped by 0.85% day-on-day or down RMB 9 to RMB 1,054/mt during the day trading session on Monday. The rebar …
Iron Ore DCE Sep Daily Technical Review 2/8/21
Verdict – Short-term neutral, slow down on correction. DCE iron ore September recover after a huge correction, as expected last Friday. Hourly MACD potentially create a gold cross. Hourly slow stochastic KD potentially rebound from oversold area. Hourly CCI created a multiple bottom areas and rebound to neutral area. Technical signals were indicating an oversold …
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Daily Virtual Steel Mill Report 2/8/21
Market Verdict on Iron Ore： · Iron ore short-run oversold, potential to maintain rebound and test high. Macro · China political conference required to maintain commodity price stable. China central bank propose to maintain a stable monetary in the second half year of 2021. · Jiangsu closed 55 highway exits and entrances because of the …
Ferrous trade weekly review 30/7/21
A total of 590,000 mt of iron ores was traded for the week ended Jul 30, up 15.69% week-on-week, as the Chinese steel demand was constrained by output cuts. The steel production had slowed down with extending output cuts over various Chinese provinces, while rainy weather affected steel demand and logistics. During the week, the …