Iron ore futures dropped on market uncertainty over military conflict in Ukraine that dampened market confidence. The futures of Dalian Commodity Exchange (DCE) for May delivery then dropped by 3.13% day-on-day or down RMB 22 to RMB 680.50/mt, during the day trading session on Friday. The rebar futures also dropped by 1.85% or down RMB …
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Iron Ore DCE May Daily Technical Review 24/2/22
Verdict – Short-term neutral. DCE iron ore May22 closed with a doji. The trading range narrowed compared to yesterday. Hourly slow stochastic KD flattened. Hourly MACD flattened. Short-run technical was indicating a neutral sentiment. The first support is 682.0, the first resistance is 718.5
Daily Virtual Steel Mill Report 24/2/22
Market Verdict on Iron Ore： • Bearish. Macro • Kyiv says multiple sites attacked across country. • Europe central bank Vice President said the central bank would consider make adjustments on the asset purchase after the termination of PEPP in this March. In addition, the central bank would consider increasing interest rate. Iron Ore Key …
Daily DCE Review 23/2/22
Iron ore futures dipped from recent rally, as Beijing policymakers stated to bring price stability from market malpractices like ‘excessive hoarding’. The futures of Dalian Commodity Exchange (DCE) for May delivery then inched down by 0.78% day-on-day or down RMB 5.50 to RMB 700/mt, during the day trading session on Wednesday. The rebar futures also …
Iron Ore DCE May Daily Technical Review 23/2/22
Verdict – Short-term neutral. DCE iron ore May22 rebounded and recovered majority of loss from yesterday. The two-day low fell on 682.0 – 683.0 area, creating a short-run support. The resistance on 718.5 also gave pressure to iron ore prices for current two days. Short-run slow stochastic KD widened after created gold cross. Short-run CCI …
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Iron Ore DCE May Daily Technical Review 22/2/22
Verdict – Short-term bearish. DCE iron ore May22 re-entered the bearish tunnel during the day with expanding trading volume. The volume and open interest structure indicated that iron ore market was still driven by aggressive new short positions. Hourly MACD expanded in bearish territory. Hourly slow stochastic KD created a dead cross above oversold area. …
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Daily Virtual Steel Mill Report 21/2/22
Market Verdict on Iron Ore： • Neutral. Macro • G20 finance ministers and central bank leaders said that the global economy continued to recover, but influenced by COVID-19 and other countries. The recovery process and policies were different among countries. The inflation pressure of some countries increased. The attending countries promised to take all available …
Daily DCE Review 21/2/22
Iron ore futures rebounded after a week of losses, as buying interests improved as steel production is expected to recover after the Winter Olympics. The futures of Dalian Commodity Exchange (DCE) for May delivery then rose by 4.74% day-on-day or up RMB 32 to RMB 707/mt, during the morning trading session on Monday. The rebar …
Daily DCE Review 18/2/22
Iron ore futures extended losses till the end of the week, as market expected more intervention from regulators to stabilize prices. The futures of Dalian Commodity Exchange (DCE) for May delivery then fell by 1.37% day-on-day or down RMB 9.50 to RMB 685/mt, during the day trading session on Friday. The rebar futures however went …
Iron Ore DCE May Daily Technical Review 18/2/22
Verdict – Short-term neutral. DCE iron ore May22 recovered from extreme sentiment after a low open last night, saw a slight recovering volume. Hourly slow stochastic KD created gold cross in oversold area. Hourly MACD widened above 0 axis. Technical signals were indicating a neutral sentiment and exhaustion on the previous sellers, however the mid-run …
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