FIS API Blog
Verdict – Short-term neutral to bearish. DCE iron ore September contract retreated as previous long taking gains before Labor Day holiday. However market needs further confirmation on the reversal, unless a breakdown on important support on 1083.0 level. Hourly slow stochastic KD narrowed near oversold area. Hourly CCI flattened. Technical signals were indicating the correction …
Continue reading “Iron Ore DCE Sep Daily Technical Review 30/4/21”
Market Verdict on Iron Ore： · Iron ore neutral. Macro： · U.S. Q1 GDP growth rate at 6.4%, higher than 6.1% expected. Iron Ore Key Indicators: · Platts62 $190.45, unch, MTD $179.29. Corex PBF yesterday traded with a $6 premium based on June Index, which was unchanged to the day before. However miner traded a …
Verdict – Short-term neutral. DCE iron ore September contract consolidated as previous expected in wide range with increasing volume and smaller open interest because of approaching Labor Day. However hourly stochastic KD created dead cross. Hourly MACD widened below 0 axis. Iron ore currently has no clear trend within the range box of 1110.5 – …
Continue reading “Iron Ore DCE Sep Daily Technical Review 29/4/21”
Market Verdict on Iron Ore： · Iron ore neutral. Macro · U.S. federal maintained the interest rate between 0-0.25% unchanged, in line with market expectation. Powell announced that Federal will seek financial facilities to decrease inflation rate if inflation goes beyond 2%. Iron Ore Key Indicators: · Platts 62%: $190.45 (-3.40) MTD $178.70. Port market …
Verdict – Short-term neutral. DCE iron ore September contract tested low in night session and rebounded during day session. Hourly slow stochastic KD created dead cross near overbought area and then flattened. Hourly CCI rebounded from -100 area. 1166.0 level has become a significant resistance level during current two days. The major support from 1113.0- …
Continue reading “Iron Ore DCE Sep Daily Technical Review 28/4/21”
Market Verdict on Iron Ore： · Iron ore neutral. Macro · China national Bureau of Statistics indicated Jan-Mar above scale industry enterprise realised 182.54 million yuan profit, up 1.37 times y-o-y, up 50.2% compared with same period in the year 2019. · Several cities in eastern China started the fifth round of price increase on …
Iron ore futures moved lower at the close due to market concerns over price controls following the recent rally. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then dropped by 1.04% day-on-day or down RMB 12 to RMB 1,138.50/mt on Wednesday. The steel rebar contract on the Shanghai Futures …
Iron ore futures continued to hike up on good Chinese pre-holidays restocking demand and robust steel demand. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then rose by 1.89% day-on-day or up RMB 21.50 to RMB 1,158.50/mt on Tuesday. The steel rebar contract on the Shanghai Futures Exchange, also …
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Iron ore futures rallied to record high level due to robust steel demand and market concerns over extensions of output curbs to other Chinese provinces. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then jumped by 4.33% day-on-day or up RMB 47.50 to RMB 1,144.50/mt on Monday. The steel …
