Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · On June 9, the National Development of Reform Commission held a forum, proposing to closely track the trend of commodity prices, including price forecasting and early warning, further understanding the operation of relevant market entities, figure out the clues of illegal price increases, …
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Daily DCE Review 9/6/21
Iron ore futures rebounded from previous trading day losses, amid a volatile market with narrowing steel margins. The futures of Dalian Commodity Exchange (DCE) for September delivery then rose by 3.98% on-day or up RMB 45 to RMB 1,175/mt on Wednesday. The steel rebar contract on the Shanghai Futures Exchange also jumped up by 1.31% …
Iron Ore DCE Sep Daily Technical Review 9/6/21
Verdict – Short-term neutral. DCE iron ore September contract spiked during the last night session, however resisted below 1191.5-1197.0 area. The lower side 1148.5 also provide very strong support in mid-run. Hourly candles chart entered a consolidating mode. Hourly CCI pulled back from bullish territory. Hourly slow stochastic KD potentially create dead cross below overbought …
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Daily Virtual Steel Mill Report 9/6/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China May CPI 1.3%, est. 1.6%, last 0.9%. China May PPI up 9%, est. 8.3%, last 6.8%. · World Bank published Global Economic Outlook, adjusted the year 2021 economy growth rate from 4% to 5.6%. China economy growth rate in 2021 from 7.9% …
Daily DCE Review 8/6/21
Iron ore futures dipped slightly after a volatile trading session, amid softening steel prices and narrowing margins. The futures of Dalian Commodity Exchange (DCE) for September delivery then inched down slightly by 0.73% on-day or down RMB 8.50 to RMB 1,149/mt on Tuesday. The steel rebar contract on the Shanghai Futures Exchange also dropped by …
FIS Weekly Virtual Steel Margin Report 08/06/21
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Daily DCE Review 7/6/21
Iron ore futures dropped on Monday, due to market concerns over unfavorable weather conditions in June and low import volume from previous month. The futures of Dalian Commodity Exchange (DCE) for September delivery then went down by 4.40% on-day or down RMB 51.50 to RMB 1,118/mt on Monday. The steel rebar contract on the Shanghai …
Iron Ore DCE Sep Daily Technical Review 7/6/21
Verdict – Short-term neutral to bearish. DCE iron ore September contract test low as expected from last Friday. The correction ended mid-run rebound. Hourly candles created a clear multiple top area, which was normally a reversal and bearish signal. The neckline at 1148.5, created very strong resistance. The intra-day support at 1115.5 was the major …
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Daily Virtual Steel Mill Report 7/6/21
Market Verdict on Iron Ore： · Iron ore short-run neutral to bearish. Macro · China will rely on step-by-step measures to slow the appreciation of the yuan, to restrict speculators and help local exporters avoid tough measures that may impede its goal of liberalizing the yuan and enhancing its global influence. The people’s Bank of …
Ferrous trade weekly review 4/6/21
A total of 1.11 million mt of iron ores was traded for the week ended Jun 4, amid softening steel margins due to commodity price control imposed by the Chinese authority. However, benchmark iron ore prices soon found some support after market talks of easing steel output restriction in Tangshan that spurred paper trading and …