Market Verdict on Iron Ore： • Neutral to bearish. Macro • Europe Union would impose tariff on steel fasteners exported from China by 22.1-86.5%. Iron Ore Key Indicators: • Platts62 $130.65, -9.65, MTD $145.37. SGX and DCE iron ore futures trades both improved on volumes from last night and this morning. However physical trade was …
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Daily DCE Review 17/2/22
Iron ore futures fell for most of the week, in awaiting of more meeting outcomes from the market regulators on the issue of price fabrication and false information. The futures of Dalian Commodity Exchange (DCE) for May delivery then fell by 3.79% day-on-day or down RMB 27 to RMB 684.50/mt, during the day trading session …
Iron Ore DCE May Daily Technical Review 17/2/22
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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Iron Ore DCE May Daily Technical Review 16/2/22
Verdict – Short-term neutral. DCE iron ore May22 recovered slightly during the day. Hourly MACD potentially create gold cross. Hourly slow stochastic KD created gold cross below 0 axis. Hourly CCI rebounded fast from bearish territory. Iron ore price rebounded on the back of 696.0 twice during the day. However the rebound continuance was uncertain. …
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Daily DCE Review 16/2/22
Iron ore futures extended its bearish run for the third consecutive trading day, due to limited trading activities. The futures of Dalian Commodity Exchange (DCE) for May delivery then fell by 1.10% day-on-day or down RMB 8 to RMB 720/mt, during the day trading session on Wednesday. The rebar futures, however, went up by 1.85% …
Daily DCE Review 15/2/22
Iron ore futures slumped for the second consecutive day as Chinese market regulators toughened their measures on price information. The futures of Dalian Commodity Exchange (DCE) for May delivery then slumped by 9.98% day-on-day or down RMB 77.50 to RMB 699/mt, during the day trading session on Tuesday. The rebar futures also went down by …
Daily DCE Review 14/2/22
Iron ore futures continued to slide upon market fears of tougher and stringent checks on price information circulating in the market. The futures of Dalian Commodity Exchange (DCE) for May delivery then dropped by 6.84% day-on-day or down RMB 57 to RMB 776.50/mt, during the day trading session on Monday. The rebar futures also went …
Iron Ore DCE May Daily Technical Review 14/2/22
Verdict – Short-term neutral. DCE iron ore May22 closed slight higher than the Friday closing, currently iron ore was trade between the narrow range of 761.5- 789.0. Hourly MACD narrowed below 0 axis. Hourly slow stochastic KD potentially create gold cross above oversold area. Hourly CCI entered neutral area. Daily technical signals were indicating a …
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Daily Virtual Steel Mill Report 14/2/22
Market Verdict on Iron Ore： • Neutral. Macro • WTI reached $94.88/barrel, refreshed the high from the year 2014. LME Alumunium also created new high since the year 2008 previous Friday. • Russia and U.S. both retreated the withdraw diplomatic personal and related staff in Ukraine, expecting the tightened geo-political relations. • China Central Bank …
Iron Ore DCE May Daily Technical Review 11/2/22
Verdict – Short-term neutral to bearish. DCE iron ore May22 contract fell fast after refreshing the high created from August 5th, creating a short-run roof area around 845.0- 849.0. Hourly MACD created dead cross. Hourly slow stochastic KD created dead cross below overbought area. Hourly CCI corrected massively from overbought area. Iron ore potentially test …
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