Market Verdict on Iron Ore： • Neutral. Macro • U.S. April CPI up 8.3% y-o-y, narrowed from March at 8.5%. Core CPI up 6.2% y-o-y, higher than expected 6%. Iron Ore Key Indicators: • Platts62 $133.50, +5.40, MTD $136.78. Seaborne iron ores such as PBF saw several interests based on sales with discount. …
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Daily DCE Review 12/05/22
Iron ore futures dipped in the day session, despite opened higher in the morning amid market concern over weak steel margins. The futures of Dalian Commodity Exchange (DCE) fell by 1.36% day-on-day or down RMB 11 to RMB 796/mt, during the day trading session on Thursday. The rebar futures also dropped by 0.99% or down …
Iron Ore DCE September Daily Technical Review 11/05/22
Verdict – Short-term neutral. DCE iron ore September contract rebounded and ended the previous correction after broke through the important resistance at 783.0 and made it to a support. The 783.0 level has been support and resistance level for many times. Hourly MACD created gold cross. Slow stochastic KD rebounded significantly. Hourly CCI reached …
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Daily DCE Review 11/05/22
Iron ore futures rose in the day session, after a slow start at the beginning of the week, due to market concerns over declining steel demand. The futures of Dalian Commodity Exchange (DCE) hiked by 5.32% day-on-day or up RMB 41.50 to RMB 821/mt, during the day trading session on Wednesday. The rebar futures also …
Daily Virtual Steel Mill Report 11/05/22
Market Verdict on Iron Ore： • Neutral. Macro • Biden said White House could drop Trump Tariffs on China started in 2018 to lower consumer prices and fight inflation in U.S. • China NDRC and other four departments jointly sent notice to lower the enterprise cost in 2022 and strengthen commodity market supervision. • …
Iron Ore DCE September Daily Technical Review 10/05/22
Verdict – Short-term neutral to bearish. DCE iron ore September contract corrected as expected. Iron ore tested resistance of 783.0, however rejected. Hourly slow stochastic KD created gold cross in oversold area, however the KD has yet left oversold area. Hourly MACD narrowed below 0 axis. Hourly CCI created bullish divergence with price. Technical …
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Daily DCE Review 09/05/22
Iron ore futures started the week on softer note, due to declining steel margins and slow demand. The futures of Dalian Commodity Exchange (DCE) dropped by 5.78% day-on-day or down RMB 49.50 to RMB 806.50/mt, during the day trading session on Monday. The rebar futures also fell by 3.72% or down RMB 180 day-on-day to …
Iron Ore DCE September Daily Technical Review 09/05/22
Verdict – Short-term neutral to bearish. DCE iron ore September contract tanked during the first few minutes this morning however resisted by 796.0- 800.0 area. Hour CCI rebounded from bearish territory temproraly to a neutral area. Hourly slow stochastic KD potentially create gold cross in oversold area. New sellers built positions in iron ore …
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Daily Virtual Steel Mill Report 09/05/22
Market Verdict on Iron Ore： • Neutral. Macro • Shanghai: the first batch of “white list” for the resumption of work and production has been announced. CATL, leading battery maker of China indicated that Shanghai factory had resumed 90% of work force. The production capacity has returned to the pre-epidemic level. The factory planed …
Daily DCE Review 06/05/22
Iron ore futures ended the week on decline, despite rebounding earlier on the week since the return of Chinese trade participants from the long holidays period. The futures of Dalian Commodity Exchange (DCE) dropped by 5.12% day-on-day or down RMB 44.50 to RMB 825/mt, during the day trading session on Friday. The rebar futures also …