Market Verdict on Iron Ore： • Neutral. Macro • European gas prices soared 34%. Earlier, Putin said that the supply of natural gas to European countries would be settled in rubles. • China machinery excavators March sales number reached 40,000, down 49% y-o-y, down 36% compared with February. • The office of the U.S. …
Tag archives: IO62
Daily DCE Review 24/03/22
Iron ore futures continued to climb, despite logistical disruption in China from worsening Covid spread with travel restrictions implemented over 20 Chinese provinces. The futures of Dalian Commodity Exchange (DCE) for May delivery rose by 1.30% day-on-day or up RMB 10.50 to RMB 818/mt, during the day trading session on Thursday. The rebar futures also …
Daily Virtual Steel Mill Report 23/3/22
Market Verdict on Iron Ore： • Neutral. Macro • China NDRC and NEA(National Energy Administration) planned to reach 4.6 billion tons equivalent of sta • On March 22, Chinese National Development and Reform Commission and the National Energy Administration issued the “14th five year plan” for modern energy system. By 2025, the annual comprehensive …
Daily DCE Review 23/03/22
Iron ore futures inched up on the day session, despite market concerns over stringent covid lockdown measures that hurt steel demand. The futures of Dalian Commodity Exchange (DCE) for May delivery rose by 0.43% day-on-day or up RMB 3.50 to RMB 822.50/mt, during the day trading session on Wednesday. The rebar futures also increased by …
Daily Virtual Steel Mill Report 22/3/22
Market Verdict on Iron Ore： • Neutral. Macro • China PM Li Keqiang held a conference to enhance tax return and tax exemption policy to support economy growth. • European Central Bank Committee Olli Rehn indicated that central bank potential start interest rate increase by the end of this year or the beginning of …
Iron Ore DCE May Daily Technical Review 22/3/22
Verdict – Short-term bearish. DCE iron ore May22 contract slumped during the last two hours and created a mid-run roof areas. If a rejection on 810 – 813.0 while next rebound would generally mean iron ore re-entered a bearish trend. All support above 740.5 are believed as weak support. Hourly stochastic KD has created bearish …
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Iron Ore DCE May Daily Technical Review 21/3/22
Verdict – Short-term neutral. DCE iron ore May22 contract re-entered into a consolidation range in short-run. After a spike at Friday night and a test low in Monday morning, iron ore finally closed near the open level at Friday night. May-Sep22 spread started to narrow, when major contract rolling started from last week. Front month …
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Daily Virtual Steel Mill Report 21/3/22
Market Verdict on Iron Ore： • Neutral. Macro • China and U.S. held an internet conference during the tight worldwide political conditions in the first quarter of the year 2022. Although both countries have different views on the Russia-Ukraine war, however both countries thought the talk was “constructive” and mentioned to improve the cooperation …
Ferrous Trade Weekly Review 18/03/22
A total of 540,000 mt of iron ores was traded for the week ended Mar 18, after a long pause of minimal trades due to Chinese market regulator crackdown on false price information. There was also more steel production following the removal of output curbs after the Two Sessions meeting and Paralympic events During the …
Iron Ore DCE May Daily Technical Review 18/3/22
Verdict – Short-term neutral. DCE iron ore May22 contract rebounded during the open over night session, however consolidate around 830.0 area for most of time in the day session. A breakthrough on 838.5 would indicate a new round of spike. Hourly CCI potentially drop from the bullish territory. Hourly slow stochastic KD flattened in an …
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