FIS API Blog
Verdict – Short-term neutral. DCE iron ore September contract recovered massively during the day, however open interest was similar to previous trading day, indicating the balance structure between long and shorts. CCI hourly chart was indicating a potential roof area. Slow stochastic KD entered an overbought area. Technical signals were indicating a slow down on …
Continue reading “Iron Ore DCE Sep Daily Technical Review 31/5/21”
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China PM Li Keqiang pointed out at the meeting that to utilize market tools to solve major problems in economic such as rising commodity prices, promote science and technology innovation, expand domestic demand and promote opening up. Xi Jinping delivered an important speech …
A total of 0.6 million mt of iron ores was traded for the week ended May 28, as the market toned down after Chinese authority’s pledge of commodity price control into their latest five-year plan. Therefore, the steel prices soon traversed downward, which affected steel margins as trade participants became more cautious in trading. During …
Iron ore futures ended the week on high note after recovering from the slump earlier on the week. The futures of Dalian Commodity Exchange (DCE) for September delivery then rose by 4.11% on-day or up RMB 42 to RMB 1,063/mt on Friday. The steel rebar contract on the Shanghai Futures Exchange also went up by …
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · Biden’s budget raise annual spending to $6 trillion, with annual deficits of more than $1.3 trillion over the next decade. Iron Ore Key Indicators: · Platts62 $187.65, -4.00, MTD $207.05.PBF premium marked arround yearly high at $8.65, based on July index, which was …
Iron ore futures recovered from the morning session slump to record gains in the afternoon session, amid lower steel prices and margins. The futures of Dalian Commodity Exchange (DCE) for September delivery then inched up by 1.11% on-day or up RMB 11.50 to RMB 1,046.50/mt on Wednesday. The steel rebar contract on the Shanghai Futures …
Verdict – Short-term rebound. DCE iron ore September contract recovered most of losses from yesterday and rebounded. Hourly candles returning to previous consolidation platform. Hourly slow stochastic KD created gold cross above oversold area. CCI returned to neutral area from a two-week-low area. Daily slow stochastic KD potentially create gold cross near oversold area. Short-run …
Continue reading “Iron Ore DCE Sep Daily Technical Review 27/5/21”
Market Verdict on Iron Ore： · Iron ore short-run rebound after oversold. Macro · China PM Li Keqiang presided over the executive meeting of the State Council on May 26, to support finance for small and enterprises and individual businesses. To support large enterprises to build a platform connecting supply and demand for the industrial …
Verdict – Short-term bearish. DCE iron ore September contract corrected significantly during the day. Hourly MACD created dead cross. Hourly CCI dropped from the highest since May 18th to the lowest of the year. Currently iron ore price drop along with new short position, indicating a continuous correction. The first support is 964.5, the first …
Continue reading “Iron Ore DCE Sep Daily Technical Review 26/5/21”
Market Verdict on Iron Ore： · Iron ore short-run bearish. Macro · China top economic planning to rein in abnormal fluctuations in commodities price including iron ore, copper, and corn, which was part of broader five-year plan to overhaul various pricing mechanisms. · On May 25, CNY against the US dollar mid-rate was 6.4283, up …
