Market Verdict on Iron Ore： · Iron ore short-run neutral to bullish, be aware of taking gains. Macro · U.S. non-agricultural employment reached 266,000, much lower than expectation at 978,000. U.S. index DXY dropped to the lowest since February 25th. Inflation-linked assets were bought massively cross weekends. Iron Ore Key Indicators: · Iron ore and …
Tag archives: IO62
Ferrous trade weekly review 7/5/21
A total of 0.7 million mt of iron ores was traded for the week ended May 7, during the short working week amid the Labour Day holidays in China. During the week, market activities were muted until the return of Chinese participants later in the week and spurred the steel prices to record-high. So far, …
Daily DCE Review 7/5/21
Iron ore futures continued to rise for the second consecutive day after the long holidays as trade participants remained bullish on steel demand. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then rallied up by 6.37% day-on-day or up RMB 73.50 to RMB 1,226.50/mt on Friday. The steel rebar …
Iron Ore DCE Sep Daily Technical Review 7/5/21
Verdict – Short-term neutral to bullish. DCE iron ore September contract refreshed historical high and maintain strong movement. Iron ore futures hourly candles failed to breakthrough intra-day high at 1231.0 level. Hourly CCI retreated to the bound between neutral and bullish area from a two-week-high, which created a bearish divergence with the strong price movement. …
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Daily Virtual Steel Mill Report 7/5/21
Market Verdict on Iron Ore： · Iron ore neutral to bullish. Macro · Commodity market witnessed a massive growth in May since a concern on Indian pandemic spread caused a new round of chain-effect. In addition, China-Australia tension also contribute to the metals growth. · IMF indicated world countries need to be aware of the …
Daily DCE Review 6/5/21
Iron ore futures rallied as trade participants returned from the long holidays amid high steel prices and margins. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then surged up by 6.81% day-on-day or up RMB 75.50 to RMB 1,184/mt on Thursday. The steel rebar contract on the Shanghai Futures …
Iron Ore DCE Sep Daily Technical Review 6/5/21
Verdict – Short-term neutral to bullish. DCE iron ore September contract refreshed historical high and maintain strong movement. Iron ore created a gap as a strong support after a high open cross Labor Day Holiday. Hourly slow stochastic KD created gold cross near oversold area. Hourly CCI created two-weeks-high fast from a monthly low during …
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Daily Virtual Steel Mill Report 6/5/21
Market Verdict on Iron Ore： · Iron ore neutral to bullish. Macro · China National Development of Reform Commission decides to indefinitely suspend all activities under the framework of the China-Australia Strategic Economic Dialogue jointly held by the National Development and Reform Commission of the People’s Republic of China and relevant ministries of the Australian …
Daily DCE Review 5/5/21
Iron ore futures were muted following the week-long Labour Day holidays in China, though steel prices continued to climb on market optimism. Thus, the Tangshan billet prices maintained about the RMB 5,000/mt in early May and increased further by RMB 20 to RMB 5,060/mt on Wednesday. Record high margins for HRC China’s domestic …
Daily DCE Review 4/5/21
Iron ore futures came to a standstill following holidays season in China, despite gains in steel billet prices. Tangshan billet prices then rose by RMB 30 on-day to RMB 5,040/mt on Tuesday, May 4 after billet prices stabilized under the RMB 5,000/mt level since end-April. Billet margins soar to record high level Chinese …