Market Verdict on Iron Ore： • Neutral. Macro • ECB official indicated to increase previous interest hike from 50 bps to 75 bps. • China August Manufacturing PMI 49.4, est. 49.2, last 49.0. Iron Ore Key Indicators: • Platts62 $97.60, -4.15, MTD 104.94. Both seaborne and portside market saw a cooling down on …
Tag archives: IO62
Platts Commodity Flow Summary 31/08/22
Iron ore seaborne shipments from Rio Tinto, BHP, Vale, Fortescue Metals Group and Roy Hill, as well as from Saldanha port in South Africa, rose by 7.9% to 22.48 million mt in the week commencing Aug.21, according to Platts cFlow ship and commodity tracking software from S&P Global Commodity Insights. Average volumes over the previous …
Iron Ore DCE January Daily Technical Review 30/08/22
Verdict – Short-term neutral. DCE iron ore January contract corrected significantly for the second trading day. Hourly MACD widened below 0 axis. Hourly slow stochastic KD entered oversold area. In short-run iron ore potentially test the effectiveness of major support on 672.0 level. The first support is 672.0. The first resistance is 700.0.
Daily Virtual Steel Mill Report 30/08/22
Market Verdict on Iron Ore： • Neutral. Macro • U.S. dollar index DXY refreshed new high yesterday at 109, a 20-year-high. Non-dollar currencies experienced fast depreciation in past two weeks. • China Automobile Associaiton: Jan- Jul auto-making profit 273.94 million yuan, down 14.4% on the year, improved 11.1% from Jan-Jun. The auto-making industry contribute …
India’s Top Court Eases Karnataka Iron Ore Mining Curb 30/08/22
India’s Supreme Court has raised the ceiling on annual iron ore production in the southern state of Karnataka, easing the curbs on the state’s iron ore industry for the second time this year. The top court raised the ceiling on iron ore mining from 28mn t in the district of Ballari to 35mn t, …
Continue reading “India’s Top Court Eases Karnataka Iron Ore Mining Curb 30/08/22”
Iron Ore DCE January Daily Technical Review 29/08/22
Verdict – Short-term neutral. DCE iron ore January contract retreated with expanding volume, however the closing was higher than last trading day. The decrease in open interest indicated both previous buyers and sellers were leaving the market. The short-run high was confirmed at 736.5 area. Hourly CCI saw a rebound during last hour, along …
Continue reading “Iron Ore DCE January Daily Technical Review 29/08/22”
Daily Virtual Steel Mill Report 29/08/22
Market Verdict on Iron Ore： • Neutral. Macro • U.S. central PCE increased 4.6% year-on-year, est. 4.7%, last 4.8%, refreshed the lowest since February 2021. • Jan- July above designated industrial value added amount at 4.89 trillion yuan, down 1.1% on the year. Iron Ore Key Indicators: • Platts62 $105.80, +3.55, MTD $105.49. …
Iron Ore DCE January Daily Technical Review 26/08/22
Verdict – Short-term neutral to bullish. DCE iron ore January contract rebounded with increasing volume after broke through previous resistance at 721.5. Hourly MACD maintained above 0 axis, as well as the bullish territory after August 19th. Hourly CCI increased significantly in bullish territory. The iron ore trend is in acceleration phase. However be …
Continue reading “Iron Ore DCE January Daily Technical Review 26/08/22”
Daily Virtual Steel Mill Report 26/08/22
Market Verdict on Iron Ore： • Neutral. Macro • U.S. federal official indicated that the 3.75- 4% was “approachable”. However inflation expected to last for longer time. • European central bank(ECB) monetary conference note indicated to increase 50 bps would be acceptable. Iron Ore Key Indicators: • Platts 62% $102.25, -0.25,MTD 105.46. Both …
Iron Ore DCE January Daily Technical Review 25/08/22
Verdict – Short-term neutral. DCE iron ore January contract fell into neutral area although created higher highs and higher lows. Iron ore failed to expand volume and daily range narrowed after the early week spike. However iron ore maintained in an ascending tunnel from hourly chart, with strong support above 700.0 level. Hourly slow …
Continue reading “Iron Ore DCE January Daily Technical Review 25/08/22”