Iron ore futures ended the week on sharp drop on morning session, despite some recovery late in the afternoon session. The futures of Dalian Commodity Exchange (DCE) for September delivery then slumped by 7.49% on-day or down RMB 95 to RMB 1,173/mt on Friday. The steel rebar contract on the Shanghai Futures Exchange, also plunged …
Tag archives: IO62
Daily Virtual Steel Mill Report 14/5/21
Market Verdict on Iron Ore： · Iron ore short-run bearish. Macro · U.S. president Biden made a concession on the infrastructure investment on 200 million dollars proposed previously. · U.S. April PPI up 6.2% y-o-y, created the biggest increase from the year 2010, est. 5.8%. · Tangshan Market Regulation Bureau, National Development and Reform …
Iron Ore DCE Sep Daily Technical Review 13/5/21
Verdict – Short-term bearish. DCE iron ore September contract continued correction, with a further correction expectation in next trading day. Hourly stochastic KD slumped after a dead cross in the first hourly of DCE night session yesterday. Hourly CCI however finally flattened after created a year-low level. Hourly candles filled the previous gap created after …
Continue reading “Iron Ore DCE Sep Daily Technical Review 13/5/21”
Daily Virtual Steel Mill Report 13/5/21
Market Verdict on Iron Ore： · Iron ore short-run market bearish. Macro · China PM Li, Keqiang requested to follow the onshore commodity relation with offshore commodity, to resolve the quick increase of commodity price. Strengthen currency policy and keep economy stable. · U.S. CPI April increase 4.2%, created new high since September 2008. Estimation …
Daily DCE Review 12/5/21
Iron ore futures continued to rally on Wednesday, though at a smaller increase as seen previously at start of the week. The futures of Dalian Commodity Exchange (DCE) for September delivery then rose by 2.85% on-day or RMB 37 to RMB 1,337/mt on May 12. The steel rebar contract on the Shanghai Futures Exchange, also …
Iron Ore DCE Sep Daily Technical Review 12/5/21
Verdict – Short-term bullish. DCE iron ore September contract continued rebound. Hourly CCI recovered massively from a monthly low of May in current two trading days. Hourly chart indicated the previous gap by the opening of May 10th successfully supported the new round of strong movement. However a short-run increase on price need to confirm …
Continue reading “Iron Ore DCE Sep Daily Technical Review 12/5/21”
Daily Virtual Steel Mill Report 12/5/21
Market Verdict on Iron Ore： · Iron ore short-run bullish. Macro · U.S. dollar index DXY maintained consolidation from 90 – 90.3. · United Nations mid-year 2021 report indicated China growth expected to growth rate at 8.2%, higher than previous prediction at 7.2%. U.S. economy growth rate at 6.2%, higher than previous prediction as well. …
FIS Weekly Virtual Steel Margin Report 11/05/21
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004 US (FL): +1 813 490 6630
Daily DCE Review 10/5/21
Iron ore futures went up the roofer at the start of morning trading session to extend the post-holidays rally. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then rallied up to the daily limit by 10% day-on-day or up RMB 120.50 to RMB 1,326.50/mt on Monday. The steel rebar …
Iron Ore DCE Sep Daily Technical Review 10/5/21
Verdict – Short-term bullish. DCE iron ore September contract reached limit-up at 1326.0. Most of trades from last week were done by previous buyers taking gains and new buyers entering market. Thus open interest fell by 13.8% from mid-April. Hourly MACD flattened. Slow stochastic widened. SHFE HRC and Rebar have significant bids working on limit-up …
Continue reading “Iron Ore DCE Sep Daily Technical Review 10/5/21”