Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · According to Bloomberg’s survey of economists, it is expected that the Federal Reserve will begin to reduce its asset purchase plan next year, focusing on mortgage-backed securities. · The strong typhoon landed on east China caused coastal area transportation stoppage and port closure. …
Tag archives: IO62
Ferrous trade weekly review 23/7/21
A total of 510,000 mt of iron ores was traded for the week ended Jul 23, much lesser than the 1.25 million mt of iron ore traded last week, as market was affected by output cuts. There was less demand for raw materials after the Chinese authority asked various steelmakers in Jiangsu, Fujian and Yunnan …
Daily DCE Review 23/7/21
Iron ore futures slumped during the morning session, amid slower steel consumption and higher port inventory. The futures of Dalian Commodity Exchange (DCE) for September delivery then fell by 2.01% day-on-day or RMB 23 to RMB 1,124/mt during the day trading session on Friday. The rebar futures, however, went up by 2.20% day-on-day or RMB …
Daily Virtual Steel Mill Report 23/7/21
Market Verdict on Iron Ore： · Iron ore short-run bearish. Macro · President of Europe Central Bank Largede expected Q2 economy started to rebound in Europe area, and growth rate become stronger in Q3 supported by strong manufacturing industry. Largede expected EU will recover to pre-pandemic economy level in next Q1. Inflation was lower than …
Daily DCE Review 22/7/21
Iron ore futures slumped during the morning session, due to production cuts and more commodity prices curbs from the Chinese authority. The futures of Dalian Commodity Exchange (DCE) for September delivery then plunged down by 5.32% day-on-day or RMB 64 to RMB 1,138/mt during the day trading session on Thursday. The rebar futures, however, went …
Iron Ore DCE Sep Daily Technical Review 22/7/21
Verdict – Short-term neutral. DCE iron ore September corrected significantly with increasing trading volume. Hourly MACD created dead cross. Hourly slow stochastic KDE created dead cross below overbought area, indicated a market reversal. CCI created a double top area. Technical signals were indicating the correction potentially continues. The first support is 1114.5, the first resistance …
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Daily Virtual Steel Mill Report 22/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · A senior official of the IMF said the global output gap of about $15 trillion caused by the Covid-19 crisis, needed “tough reforms” in product, labor and financial markets. · US Deputy Secretary of state Sherman will visit China from July 25 to …
Daily DCE Review 21/7/21
Iron ore futures faced a selloff in the day session, due to market concerns over firmer commodities’ price controls and bad weathers that affected transportation and logistics in Henan, China. The futures of Dalian Commodity Exchange (DCE) for September delivery then slumped down by 3.85% day-on-day or RMB 47 to RMB 1,174/mt during the day …
Iron Ore DCE Sep Daily Technical Review 21/7/21
Verdict – Short-term bearish. DCE iron ore September corrected significantly with increasing trading volume. Hourly MACD created dead cross. Hourly slow stochastic KDE created dead cross below overbought area, indicated a market reversal. CCI created a double top area. Technical signals were indicating the correction potentially continues. The first support is 1152.0, the first resistance …
Continue reading “Iron Ore DCE Sep Daily Technical Review 21/7/21”
Daily Virtual Steel Mill Report 21/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral to bearish. Macro · The Asian Development Bank predicts that China’s economic growth is expected to remain at 8.1% this year and 5.5% in 2022. However, the overall growth expectations of Asian developing economies have been lowered. · The National Development and Reform Commission held …