Market Verdict on Iron Ore： • Neutral. Macro： • Market expected that the new emerging potentially start interest cut this year. Iron Ore Key Indicators: • Platts62 $104.45, +2.00, MTD $105.29. The seaborne inquiries became active because of the recovery of import margins. MACF traded at $100.7, increased by near $7 compared to …
Tag archives: IO65
Iron Ore DCE September23 Daily Technical Review 29/05/23
Verdict- Neutral to bullish. DCE Sep23 contract rebounded during the trading day, which was also supported above 700.0 level. Hourly slow stochastic KD created a fast rebound and entered overbought area. Hourly MACD entered bullish territory. If a breakthrough on 733.0 would potentially accelerate the current upward movement. First support 700.0. First resistance 733.0.
Daily Virtual Steel Mill Report 29/05/22
Market Verdict on Iron Ore： • Neutral. Macro： • US House Speaker Kevin McCarthy stated that the White House and Republican have reached an agreement in principle on the debt ceiling. • From January to April, China industrial enterprises value added amount down 20.6% on the year. Iron Ore Key Indicators: • Platts62 …
Daily Virtual Steel Mill Report 26/05/22
Market Verdict on Iron Ore： • Neutral. Macro： • The number of unemployment benefits files in U.S. last week reached 229,000, a new low since the week of April 22, 2023, with an estimated 245,000 files, compared to the previous value of 242,000 files. • Chinese completed new issued local bonds exceeded 2 trillion …
Iron Ore DCE September23 Daily Technical Review 25/05/23
Verdict- Neutral. DCE Sep23 contract consolidated during the trading day. The low of the day once broke the long-run support at 675.5, however recovered fast after the test low. The high of day reached 695.0, which was still far from 700.0. Hourly MACD narrowed below oversold area. Hourly slow stochastic KD brewing breakthrough in oversold …
Continue reading “Iron Ore DCE September23 Daily Technical Review 25/05/23”
Daily Virtual Steel Mill Report 25/05/22
Market Verdict on Iron Ore： • Neutral. Macro： • U.S. Markit May PMI 48.5, less than expected 50, refreshed the lowest of last three months. Eurozone PMI May at 44.6, last 45.8. • The third round of negotiations between the White House and Congressional leadership continued with no resolution, although both sides described that …
Iron Ore DCE September23 Daily Technical Review 24/05/23
Verdict- Neutral to bearish. DCE Sep23 contract corrected significantly during the trading day, impacted by the macro crush on secondary market. Hourly MACD widened in bearish territory. Hourly slow stochastic KD deepened correction. If a holding up on last periodic low at 675.5, then potentially see rebound. First support 675.5. First resistance 700.0.
Daily Virtual Steel Mill Report 24/05/22
Market Verdict on Iron Ore： • Neutral. Macro： • U.S. Markit May PMI 48.5, less than expected 50, refreshed the lowest of last three months. Eurozone PMI May at 44.6, last 45.8. • The third round of U.S. Debt ceiling negotiations between the White House and Congressional leadership continued with no resolution, although both …
Iron Ore DCE September23 Daily Technical Review 22/05/23
Verdict- Neutral. DCE Sep23 contract corrected significantly during the day. Hourly MACD widened in bearish territory. Hourly slow stochastic KD created lower dead cross. Hourly CCI fell into bearish territory. A recovery on 719.5 would suggest iron ore returned to neutral. Otherwise, iron ore expected a continuous drop in the next session. First support 693.5 …
Continue reading “Iron Ore DCE September23 Daily Technical Review 22/05/23”
Daily Virtual Steel Mill Report 22/05/22
Market Verdict on Iron Ore： • Neutral. Macro： • U.S. Federal president Jerome Powell indicated that the consumer price was the key of economy. To maintain a stable price was the responsibility of U.S. Federal. The realization of 2% inflation target along with the credit risk would bring long-term panic to economy. Thus, interest …