Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · From January to June, the cumulative growth rates of domestic sales of large, medium and small excavators were 9.8%, 45.5% and 18.7% respectively. Although they still maintained the growth trend, but were 7.2%, 9.7% and 6.6% slower than previous five months. The growth …
Tag archives: IO65
Iron Ore DCE Sep Daily Technical Review 8/7/21
Verdict – Short-term neutral to bearish. DCE iron ore September rejected below previous high at 1252.0 level. From hourly chart, the iron ore was also rejected by 1204.0 level, which was close to a neckline of a double top pattern. The price movement and candle pattern were indicating iron ore price entered a corrective phase. …
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Daily Virtual Steel Mill Report 8/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China Prime Minister held a conference to facilitate RRR cuts focusing on decrease cost for mid-small capital enterprises. The RRR cuts were not related to a general loose on money supply. · According to the National Development of Reform Commission’s “14th five year” …
Iron Ore DCE Sep Daily Technical Review 7/7/21
Verdict – Short-term neutral. DCE iron ore September rebounded for the fourth trading day, however resisted below the important pivot level at 1253.5, which was a previous high. A rejection on this level for the next few days potentially bring iron ore into a consolidation area. Hourly MACD flattened. Hourly CCI recover and spiked to …
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Daily Virtual Steel Mill Report 7/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · The general office of the CPC Central Committee and the general office of the State Council proposed to crack down on illegal securities activities in accordance with the law, strictly investigate the legality of the sources of securities investment funds, and strictly control …
FIS Weekly Virtual Steel Margin Report 06/07/2021
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Iron Ore DCE Sep Daily Technical Review 5/7/21
Verdict – Short-term neutral. DCE iron ore September rebounded significantly during the day session, however price was resisted by 1222.5 level for three times from minute-to-minute chart. Hourly slow stochastic KD potentially flattened. Hourly CCI potentially reverse from the high. Hourly MACD expanded. Short-run technical signals were indicating a temporary breath over a two day …
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Daily Virtual Steel Mill Report 5/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · The number of non-agricultural employment in the United States increased by 850,000 in June, which was larger than expected at 720,000. Last number 559,000. The U.S. unemployment rate in June was 5.9%, estimated at 5.6%, previous 5.8%. Iron Ore Key Indicators: · Platts62 …
Iron Ore DCE Sep Daily Technical Review 2/7/21
Verdict – Short-term neutral. DCE iron ore September contract tested low, however which was higher than the lower bound of consolidation range. Thus iron ore maintained in the consolidation range. Iron ore started to rebound during the last two hours, however volume was small. Iron ore technically consolidate in narrower range bounds. Hourly slow stochastic …
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Daily Virtual Steel Mill Report 2/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral to bearish. Macro · China Caixin PMI 51.3, estimate 51.8, last 52. · IMF predicted U.S. inflation rate will keep above 2%. IMF also predicted U.S. federal will increase interest rate from the end of year 2022 to early 2023. Iron Ore Key Indicators: · …