Market Verdict on Iron Ore： · Neutral. Macro · NAHB/Wells Fargo Housing Index(HMI) decrease 6 to 49, created the eighth consecutive monthly decrease. The number was also the lowest since 2014, which indicated the U.S. economy was slowing down. · AFS: Global automobile market decreased 2.9973 million units, expected to decrease 3.8262 million units …
Tag archives: IO62
Iron Ore DCE January Daily Technical Review 17/08/22
Verdict – Short-term neutral to bearish. DCE iron ore January failed to extend the previous growth and went back to a descending tunnel. Daily MACD entered a bearish territory. Daily CCI entered a bearish territory. Iron ore potentially see oversold rebound in the next few sessions. However technical signals were indicating iron ore entered …
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Daily Virtual Steel Mill Report 17/08/22
Market Verdict on Iron Ore： · Neutral. Macro · NAHB/Wells Fargo Housing Index(HMI) decrease 6 to 49, created the eighth consecutive monthly decrease. The number was also the lowest since 2014, which indicated the U.S. economy was slowing down. · AFS: Global automobile market decreased 2.9973 million units, expected to decrease 3.8262 million units …
Australia’s Port Hedland July Iron Ore Exports Rise 5.9% On Year 17/08/22
Australia’s largest iron ore loading port, the port of Port Hedland, exported 46.9 million mt of iron ore in July, up 5.9% on the year, according to the latest data released by the Pilbara Ports Authority Aug. 16. However, the PPA data showed that the exports were down 5.7% from June, which had seen the …
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Iron Ore DCE January Daily Technical Review 16/08/22
Verdict – Short-term neutral. DCE iron ore January successfully broke the neckline level at 713.5 recovered most of loss from last trading day. Thus, iron ore return to neutral level. Hourly slow stochastic KD created a gold cross. Hourly MACD potentially create gold cross. Technical signals were indicating a neutral sentiment. The first …
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Daily Virtual Steel Mill Report 16/08/22
Market Verdict on Iron Ore： • Neutral. Macro • Chinese central bank PBOC lowered one-year length Medium Lending Facility rate from 2.85% to 2.75%. Market expect Loan Prime Rate in China should follow the decrease soon. • NAHB/Wells Fargo Housing Index(HMI) decrease 6 to 49, created the eighth consecutive monthly decrease. The number was …
Iron Ore DCE January Daily Technical Review 15/08/22
Verdict – Short-term neutral. DCE iron ore January broke down important support at 713.5, which was the neckline of a top reversal pattern. Unless iron ore recover this level with much higher price, iron ore entered a short-run correction phase. Hourly slow stochastic KD created lower dead cross. Hourly MACD created lower dead cross. …
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Daily Virtual Steel Mill Report 15/08/22
Market Verdict on Iron Ore： • Neutral. Macro • The U.S. House passed Inflation Reduction Act in 2022. The Act will focus on increase company taxes, reaction to environmental changes, decrease prescription medicines and decrease financial deficit. • Chinese July new issued loans 679 billion yuan, M2 up 12% on the year. The difference …
Iron Ore DCE January Daily Technical Review 12/08/22
Verdict – Short-term neutral. DCE iron ore January gave back gains from previous day and still resisted by roof area from 745.0 – 755.0. In general the price movement remained in rangebound as expected. Trading volume was in similar amount during the past five trading days. Iron ore approached the neckline observed from 15 …
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Daily Virtual Steel Mill Report 12/08/22
Market Verdict on Iron Ore： • Neutral. Macro • U.S. July CPI up 8.5%, last 9.1%, est. 8.7%. China July CPI up 2.7 on the year, last 2.5%, est. 2.9%. • Chinese machinery sales in July turned from negative to positive, ended a negative number last for previous 14 months. Jan – Jul machinery …