Iron ore futures moved flattish on Wednesday, after a slump at previous night market and closed for a slight gain at the afternoon trading session. The futures of Dalian Commodity Exchange (DCE) for September delivery then inched up by 0.79% day-on-day or RMB 9.50 to RMB 1,219.50/mt during the day trading session on Wednesday. The …
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Iron Ore DCE Sep Daily Technical Review 14/7/21
Verdict – Short-term neutral. DCE iron ore September tested low first hour this morning and rebounded to opening level very fast. Iron ore was still in the consolidation range between 1152.0 – 1231.0. Hourly slow stochastic KD deepened correction after a dead cross. However MACD stabled and rebounded. Technical signals were neutral at the moment. …
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Daily Virtual Steel Mill Report 14/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China PM Li Keqiang held a economist conference to counter against economic cycle risk. Maintain the continuous effect of macro policy and avoid general liquidity release to the market. The RRR cut focus on special areas and structural demand, to benefit mid-small capital …
Daily DCE Review 13/7/21
Iron ore futures closed higher due to better steel prices and the persisted low monthly iron ore imports arrival to China. The futures of Dalian Commodity Exchange (DCE) for September delivery then soared by 3.29% day-on-day or RMB 39 to RMB 1,225/mt during the day trading session on Tuesday. The rebar futures however, dipped slightly …
SIOF Week 2021: Iron ore to extend commodity bull run
Goldman Sachs expected more steams for iron ore rally, despite its prolonged bullish run for three-consecutive year. At first the bull run was triggered by supply shock from Brazil’s Vale, but the rally had matured to a more demand-oriented market, boosted by various governments’ economic stimulus packages. “Iron ore has become the poster child of …
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FIS Weekly Virtual Steel Margin Report 13/07/2021
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Daily DCE Review 12/7/21
Iron ore futures moved in a choppy fashion on Monday, over looming concerns for further production cuts in China. The futures of Dalian Commodity Exchange (DCE) for September delivery then opened high, only to fall before recovery at the close with gain of 1.45% day-on-day or RMB 17 to RMB 1,188.50/mt during the day trading …
Iron Ore DCE Sep Daily Technical Review 12/7/21
Verdict – Short-term neutral. DCE iron ore September started to give back gains created by last Friday night session. The next session iron ore is facing correction risk. Hourly MACD created gold cross. Hourly CCI created a periodic rebound from July 8th. Hourly slow stochastic KD created gold cross and accelerated on the rebound. Technical …
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Daily Virtual Steel Mill Report 12/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China central bank PBOC decrease RRR by 0.5% on July 15th, an equivalent of 1 trillion yuan. However PBOC strategy commissioner said the RRR cut was neutralizing the maturity of MLF, the entire liquidity system was balanced and stable. · A spokesman for …
Daily Virtual Steel Mill Report 8/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · From January to June, the cumulative growth rates of domestic sales of large, medium and small excavators were 9.8%, 45.5% and 18.7% respectively. Although they still maintained the growth trend, but were 7.2%, 9.7% and 6.6% slower than previous five months. The growth …