Market Verdict on Iron Ore： · Iron ore short-run market bearish. Macro · China PM Li, Keqiang requested to follow the onshore commodity relation with offshore commodity, to resolve the quick increase of commodity price. Strengthen currency policy and keep economy stable. · U.S. CPI April increase 4.2%, created new high since September 2008. Estimation …
Tag archives: IO65
Iron Ore DCE Sep Daily Technical Review 12/5/21
Verdict – Short-term bullish. DCE iron ore September contract continued rebound. Hourly CCI recovered massively from a monthly low of May in current two trading days. Hourly chart indicated the previous gap by the opening of May 10th successfully supported the new round of strong movement. However a short-run increase on price need to confirm …
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Daily Virtual Steel Mill Report 12/5/21
Market Verdict on Iron Ore： · Iron ore short-run bullish. Macro · U.S. dollar index DXY maintained consolidation from 90 – 90.3. · United Nations mid-year 2021 report indicated China growth expected to growth rate at 8.2%, higher than previous prediction at 7.2%. U.S. economy growth rate at 6.2%, higher than previous prediction as well. …
FIS Weekly Virtual Steel Margin Report 11/05/21
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Iron Ore DCE Sep Daily Technical Review 10/5/21
Verdict – Short-term bullish. DCE iron ore September contract reached limit-up at 1326.0. Most of trades from last week were done by previous buyers taking gains and new buyers entering market. Thus open interest fell by 13.8% from mid-April. Hourly MACD flattened. Slow stochastic widened. SHFE HRC and Rebar have significant bids working on limit-up …
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Daily Virtual Steel Mill Report 10/5/21
Market Verdict on Iron Ore： · Iron ore short-run neutral to bullish, be aware of taking gains. Macro · U.S. non-agricultural employment reached 266,000, much lower than expectation at 978,000. U.S. index DXY dropped to the lowest since February 25th. Inflation-linked assets were bought massively cross weekends. Iron Ore Key Indicators: · Iron ore and …
Iron Ore DCE Sep Daily Technical Review 7/5/21
Verdict – Short-term neutral to bullish. DCE iron ore September contract refreshed historical high and maintain strong movement. Iron ore futures hourly candles failed to breakthrough intra-day high at 1231.0 level. Hourly CCI retreated to the bound between neutral and bullish area from a two-week-high, which created a bearish divergence with the strong price movement. …
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Daily Virtual Steel Mill Report 7/5/21
Market Verdict on Iron Ore： · Iron ore neutral to bullish. Macro · Commodity market witnessed a massive growth in May since a concern on Indian pandemic spread caused a new round of chain-effect. In addition, China-Australia tension also contribute to the metals growth. · IMF indicated world countries need to be aware of the …
Iron Ore DCE Sep Daily Technical Review 6/5/21
Verdict – Short-term neutral to bullish. DCE iron ore September contract refreshed historical high and maintain strong movement. Iron ore created a gap as a strong support after a high open cross Labor Day Holiday. Hourly slow stochastic KD created gold cross near oversold area. Hourly CCI created two-weeks-high fast from a monthly low during …
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Daily Virtual Steel Mill Report 6/5/21
Market Verdict on Iron Ore： · Iron ore neutral to bullish. Macro · China National Development of Reform Commission decides to indefinitely suspend all activities under the framework of the China-Australia Strategic Economic Dialogue jointly held by the National Development and Reform Commission of the People’s Republic of China and relevant ministries of the Australian …