FIS API Blog
Verdict – Short-term neutral. DCE iron ore May22 contract tested high several times however rejected by previous high at 777.0. A breakthrough and closing above 777.0 would indicate a continuous growth in mid-run. Otherwise buyers should be aware of the cross Chinese Lunar New Year holding risk. Hourly CCI re-entered the bullish territory. Hourly MACD …
Continue reading “Iron Ore DCE May Daily Technical Review 26/1/22”
Iron ore futures extended bullish run over market concerns over labor shortage among Australian miners and market optimism better steel demand post-Spring festival. The futures of Dalian Commodity Exchange (DCE) for May delivery then hiked by 3.40% day-on-day or up RMB 25.50 to RMB 776/mt, during the morning trading session on Wednesday. The rebar futures …
Iron ore futures recovered from previous losses amid market optimism over post-Lunar New Year steel demand for infrastructure sector. The futures of Dalian Commodity Exchange (DCE) for January delivery then increased by 1.39% day-on-day or up RMB 10.50 to RMB 766.50/mt, during the day trading session on Tuesday. The rebar futures also inched up by …
Verdict – Short-term neutral. DCE iron ore May22 contract rebounded in smaller volume. A continuous breakthrough on 771.5 and 777.0 with increasing volume would confirm the market return to bullish track. Otherwise iron ore potentially entered the last rebound before a mid-run correction phase. Hourly MACD created gold cross. Hourly slow stochastic KD created gold …
Continue reading “Iron Ore DCE May Daily Technical Review 25/1/22”
Iron ore futures dipped slightly as market activities slowed down before the upcoming Spring festival holidays, while trade participants were seeking for clearer market directions after the post-holidays period. The futures of Dalian Commodity Exchange (DCE) for January delivery then dropped by 1.66% day-on-day or down RMB 12.50 to RMB 740/mt, during the day trading …
A total of 1.87 million mt of iron ores was traded for the week ended Jan 21, up 65.49% on-week, as buyers rushed for purchases before Lunar New Year holidays. Most of the purchases were scheduled for delivery in late February and early March, as market participants believed that the steel demand will pick up …
Iron ore futures extended gains on Friday, despite slowing demand and improvement in the buildup of steel stocks. The futures of Dalian Commodity Exchange (DCE) for January delivery then increased by 2.23% day-on-day or up RMB 16.50 to RMB 755.50/mt, during the day trading session on Friday. The rebar futures also rose slightly by 0.11% …
Market Verdict on Iron Ore： • Neutral to bearish. Macro • US Treasury Secretary Yellen said that inflation is expected to remain above 2% in 2022. There are many uncertainties about inflation. Over time, the inflation rate is expected to decline this year. • U. S. initial jobless claims increased from 231,000 to 286,000 last …
Verdict – Short-term neutral, be aware of top reversal. DCE iron ore May22 contract rejected by 748.5 for the second day with smaller volume. Maintain neutral comment, however be aware of market reversal. Short-run iron ore created a gap from 718.5 – 732.0, which was a strong support. Hourly MACD flattened. Hourly slow stochastic KD …
Continue reading “Iron Ore DCE May Daily Technical Review 20/1/22”
Market Verdict on Iron Ore： • Neutral. Macro • China central bank decreased the one year Loan Prime Rate from 3.8% to 3.7%, the second month decrease. Five Year Loan Prime Rate decreased from 4.65% to 4.6%, previously this rate was fixed for 2o consecutive months. • U.K. December 2021 CPI up 5.4%, created the …
