A total of 710,000 mt of iron ores was traded for the week ended Dec 17, up weekly, despite approaching the holidays season. The improving margins and market optimism over steel demand in the new year had lifted the market sentiments, though some trade participants expected some sintering curbs ahead of the Winter Olympics. During …
Tag archives: IO62
Iron Ore DCE May Daily Technical Review 17/12/21
Verdict – Short-term neutral. DCE iron ore May22 contract pushed high in night session however gave back all gains in the following day session with increasing volume compared to last trading day, indicating a potential divergence on the market sentiments. Hourly slow stochastic KD created dead cross below overbought boundary. Hourly CCI fell fast from …
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Daily Virtual Steel Mill Report 17/12/21
Market Verdict on Iron Ore： • Neutral. Macro • The Bank of England unexpectedly raised interest rates by 15 basis points in borrowing costs for the first time in the current three years, due to a concerns over pandemic and the highest inflation for the past decade. • From December 15th, China central bank PBOC …
Daily DCE Review 17/12/21
Iron ore futures ended the week on surplus, with market optimism over better steel demand in the new year with improving margins. The futures of Dalian Commodity Exchange (DCE) for January delivery then jumped by 1.88% day-on-day or up RMB 12.50 to RMB 676.50/mt, during the day trading session on Friday. The rebar futures also …
Daily DCE Review 16/12/21
Iron ore futures rebounded despite slow steel demand as margins improved, which might result in better restocking activities. The futures of Dalian Commodity Exchange (DCE) for January delivery then jumped by 2.75% day-on-day or up RMB 18 to RMB 673/mt, during the day trading session on Thursday. The rebar futures also went up by 2.44% …
Iron Ore DCE May Daily Technical Review 16/12/21
Verdict – Short-term neutral. DCE iron ore May22 contract created big rebound during the day, however rejected by 675.0-677.0 area by the third time. Iron ore in short-run was close to the end of an ascending triangle pattern. A further rejection on major resistance would exhaust the motive of rebound and bring iron ore back …
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Daily Virtual Steel Mill Report 16/12/21
Market Verdict on Iron Ore： • Neutral. Macro • U.S. FOMC decided maintain the interest rate range at 0-0.25%, which fell in the expectation of market. Federal accelerate the Taper and decrease 30 billion U.S. dollars equivalent debt purchases each month, previous decrease by 150 billion dollars. The FOMC matrix indicated that commissioners expected three …
Iron Ore DCE May Daily Technical Review 15/12/21
Verdict – Short-term neutral. DCE iron ore May22 contract started weak consolidation during the day. Hourly CCI retreated approaching bearish territory. 676.0 -677.0 created a significant strong resistance. First support 645.5 was a weak support. According to Elliot wave, iron ore hourly chart didn’t successfully completed a wave 4. Technical signals were indicating a neutral …
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Daily Virtual Steel Mill Report 15/12/21
Market Verdict on Iron Ore： • Neutral. Macro • U.S. November PPI up 0.8% m-o-m, created a seven-month high. Est. up 0.5%. Last up 0.6%. • China NDRC and MIIT departments published documents to supervise commodities price movement, to increase supply on upstream commodities and utilise national reserve. Iron Ore Key Indicators: • Platts 62 …
Daily DCE Review 15/12/21
Iron ore futures slipped on slowing steel demand and prolonged sintering curbs that dampened market sentiments. The futures of Dalian Commodity Exchange (DCE) for January delivery then went down by 2.04% day-on-day or down RMB 13.50 to RMB 649/mt, during the day trading session on Wednesday. The rebar futures, however, went up by 1.07% day-on-day …