FIS API Blog
Verdict – Short-term neutral to bearish. DCE iron ore September contract tested important resistance level in 883.0- 884.5, rejected and corrected massively after then. As a result, 883.0 – 884.5 was still a major resistance area for iron ore. It is worth noting that iron ore aggregated open interest increased by 5% during the …
Continue reading “Iron Ore DCE September Daily Technical Review 06/05/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro • BOE increased interest rate by 25 basis points to 1% as expected, which was the fourth increase from last December. BOE base interest rate reached the highest over the last 13 years. • China Transportation Department announced that the high way tolls and …
Iron ore futures rose at the day session, as the Chinese trade participants returned from the long holidays period. The futures of Dalian Commodity Exchange (DCE) rose by 1.87% day-on-day or up RMB 16 to RMB 871.50/mt, during the day trading session on Thursday. The rebar futures also hiked by 1.23% or up RMB 60 …
Verdict – Short-term neutral. DCE iron ore September contract created consecutive five-day increase from April 26th. However the trading volume hasn’t seen any improvement over the previous five trading days. In addition, the intra-day high was resisted by the high created on April 25th, when market created the biggest single-day decrease since February 15th. …
Continue reading “Iron Ore DCE September Daily Technical Review 05/05/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro • U.S. trade representative Katherine Tai said on Monday that U.S. would consider using all tools to fight inflation, including reducing tariffs on Chinese exports. • European Commission President Ursula von der Leyen said that the EU would completely ban oil imports from Russia …
Verdict – Short-term neutral. DCE iron ore September contract created a four-day consecutive increase, however the trading volume and open interest decreased significantly. Traders were cautious before the China and Singapore Labour Day. Hourly slow stochastic KD maintained a healthy growth in overbought area. Hourly CCI hold on bullish territory. An effective breakthrough on the …
Continue reading “Iron Ore DCE September Daily Technical Review 29/4/22”
Market Verdict on Iron Ore： • Neutral. Macro • Chinese offshore yuan CNH depreciated 700 basis points at 6.66, dragged by the weakening of Japanese yen. • U.S. GDP Q1 growth rate -1.4%, created the first negative number since the Q2 2020, est.+ 1.1%, last +6.9%. Iron Ore Key Indicators: • Platts62 $142.00, …
Iron ore futures extended gains on the trading session, though restocking activities came to an end ahead of the long holidays in early May. The futures of Dalian Commodity Exchange (DCE) rose by 4.19% day-on-day or up RMB 35 to RMB 869.50/mt, during the day trading session on Friday. The rebar futures also hiked by …
A total of 810,000 mt of iron ores was traded for the week ended Apr 29, as Chinese restocking activities came to close before the upcoming long holidays in China. There were also some market concerns over widening lockdown measures in China, though both major cities like Beijing and Shanghai experienced some stabilization over previous …
Iron ore futures extended bullish run and closed the session on gains, after stabilization of Covid cases in major cities like Shanghai and Beijing suggested some easing of pandemic restrictions. The futures of Dalian Commodity Exchange (DCE) for May delivery rose by 3.53% day-on-day or up RMB 29 to RMB 851.50/mt, during the day trading …
