FIS API Blog
Verdict – Short-term neutral. DCE iron ore May22 contract slowed and slight corrected during the day. As expected previously, iron ore tested and created high in mid-December, however lost the area during the first 10 minutes after market opened. The previous five-day trading volume was significantly low compared to any week of December. Hourly CCI …
Continue reading “Iron Ore DCE May Daily Technical Review 7/1/22”
Market Verdict on Iron Ore： • Neutral. Macro • China Caixin December PMI 53.1, est. 51.7. Last 52.1. • China central bank PBOC: China financial system was generally stable. The lending rate for enterprises was below 5% in average, creating the new low historically. The Minister of Finance said the department will devoting in decrease …
Iron ore futures maintained bullish run over market optimism for restocking demand and better steel margins from higher steel prices. The futures of Dalian Commodity Exchange (DCE) for January delivery then hiked up by 4.14% day-on-day or up RMB 28.50 to RMB 717/mt, during the day trading session on Thursday. The rebar futures also went …
Market Verdict on Iron Ore： • Neutral. Macro • In 2022, economists of some financial institutions in China generally believe that there are three main driving forces for promoting economic growth: investment in infrastructure construction is expected to rebound. Manufacturing investment is expected to continue to increase. Consumption is expected to continue to grow. • …
Iron ore futures extended gains upon market optimism of restocking activities for the upcoming Spring festival. The futures of Dalian Commodity Exchange (DCE) for January delivery then hiked up by 2.13% day-on-day or up RMB 14.50 to RMB 694/mt, during the day trading session on Wednesday. The rebar futures also went up by 2.09% day-on-day …
Verdict – Short-term neutral. DCE iron ore May22 contract moved up and down in narrow range during the day, however the trading volume was less than half day trading volume compared to previous two trading days. The intra-day high 696.5 became the first resistance. The daily low around 681.0 area also created a short-run support …
Continue reading “Iron Ore DCE May Daily Technical Review 5/1/22”
Market Verdict on Iron Ore： • Neutral. Macro • China PM Li Keqiang held general political conference to delay some income tax incentives, equal to 1.1 trillion yuan of tax cut annually. • China proposed to increase the self-sufficiency by 35% in copper, 20% in aluminum. In addition, increase scrap ratio by 30% in steel …
Verdict – Short-term neutral to bullish. DCE iron ore May22 contract rebounded for three consecutive trading days. The trading volume was expanding if compared from session to session(only half trading days on Tuesday and previous Friday). Hourly slow stochastic KD approached the boundary of overbought area. Hourly CCI stayed in the bullish territory. Technical signals …
Continue reading “Iron Ore DCE May Daily Technical Review 4/1/22”
Iron ore futures rose on market optimism over positive China’s economic data, though there were some market concerns over the slowing property sector. The futures of Dalian Commodity Exchange (DCE) for January delivery then hiked up by 2.23% day-on-day or up RMB 15 to RMB 689/mt, during the day trading session on Tuesday. The rebar …
A total of 1.375 million mt of iron ores was traded for the week ended Dec 31, as trades picked up with restocking activities for the pre-Lunar New Year period. There was some easing of output restrictions for mills that met the environmental requirement, which led to increase in productions. During the week, the trades …
