Iron ore futures started the week on soft note, due to corrections in steel prices that dampened market sentiments. The futures of Dalian Commodity Exchange (DCE) for September delivery then plunged down by 8.79% day-on-day or down RMB 108 to RMB 1,121/mt on Monday. The steel rebar contract on the Shanghai Futures Exchange also went …
Tag archives: IO62
Iron Ore DCE Sep Daily Technical Review 21/6/21
Verdict – Short-term bearish. DCE iron ore September contract corrected as previously expected. A further breakdown on 1106.0 potentially drive down the price to 985.0 level, which was the lowest since April 12th. Daily MACD created dead cross. Daily CCI created roof area from the second week of June and then leaked to a bearish …
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Daily Virtual Steel Mill Report 21/6/21
Market Verdict on Iron Ore： · Iron ore short-run bearish. Macro · U.S. 10 year treasury bonds yield corrected to 1.425%, which was a new low from March, 2021. · On June 18th, China PM Li Keqiang held a conference to conduct a decrease on mid-small capital enterprises fees and tax, to decrease the upstream …
Ferrous trade weekly review 18/6/21
A total of 1.106 million mt of iron ores was traded for the week ended Jun 18, amid extended output curb in Tangshan and improving steel margins. According to Platts, the Chinese domestic hot-rolled coil and rebar sales profit margins averaged to decent range of $155/mt and $149/mt over June 1-15, respectively, though lower than …
Daily DCE Review 18/6/21
Iron ore futures closed the day session in slight dip, after seeing rally in morning session over market concerns over supply tightness in port inventory. The futures of Dalian Commodity Exchange (DCE) for September delivery then dipped slightly by 0.17% on-day or down RMB 2 to RMB 1,203/mt on Friday. The steel rebar contract on …
Iron Ore DCE Sep Daily Technical Review 18/6/21
Verdict – Short-term neutral to bearish. DCE iron ore September contract slumped after hearing the commodity price supervision news from NDRC. However iron ore started to correct early this morning after a periodic high created over last night. The 1248.0 and 1253.5 became the double top in mid-run. A stand on 1176.0 level could help …
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Daily Virtual Steel Mill Report 18/6/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · The National Development and Reform Commission held a regular press on June 17 to carry out the supervision of the bulk commodity market, jointly investigate the market transactions, interview enterprises and associations in key industries, investigate and verify the clues related to suspected …
Daily DCE Review 17/6/21
Iron ore futures rebounded from previous trading losses, lifted by market sentiment of rising daily steel production in early June. The futures of Dalian Commodity Exchange (DCE) for September delivery then hiked up by 1.03% on-day or RMB 12.50 to RMB 1,223.50/mt on Thursday. The steel rebar contract on the Shanghai Futures Exchange, also went …
Iron Ore DCE Sep Daily Technical Review 17/6/21
Verdict – Short-term neutral. DCE iron ore September contract recovered major loss by last trading day and return to previous consolidation range. The area of 1225.5-1233.0 provide major resistance, as the roof areas of many candles. Hourly MACD was narrowing below 0 axis. Hourly slow stochastic KD keep rebounding. However be aware of hourly candles, …
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Daily Virtual Steel Mill Report 17/6/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China National Bureau of Statistics spokeman said to pay attention to the fast increase on industrial raw materials, and decrease the cost pressure on enterprises by enhancing the market regulation. · China May above designated scale industrial enterprises added value at 8.8% y-o-y, …