Market Verdict on Iron Ore： • Neutral to bullish. Macro • Chinese September Caixin PMI 49.3, first time below boom and bust line after June. Caixin Manufacturing PMI down 1.4% at 48.1. Iron Ore Key Indicators: • Platts62 $95.80, unchanged, MTD $95.62. The trade activity in general eased off before and during golden …
Tag archives: IO65
Daily Virtual Steel Mill Report 30/09/22
Market Verdict on Iron Ore： • Neutral to bullish. Macro： • Before Chinese Golden Weeks, many cities start signing major projects, with a total investment of 3163.9 billion yuan. • The number of new claims for unemployment benefits for the first time last week was 193,000, est. 215,000, last 213,000. The U.S. economy growth …
Iron Ore DCE January Daily Technical Review 29/9/22
Verdict – Short-term neutral. DCE iron ore January contract tested high an retreated in the afternoon, as expected neutral outlook in short-run. However intra-day volume grew, and the trade range was wider compared with last trading day. Hourly MACD narrower in bullish area. Technical signals were indicating a neutral sentiment in short-run. The …
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Daily Virtual Steel Mill Report 29/09/22
Market Verdict on Iron Ore： Neutral to bullish. Macro： National conference from CFXC(China Foreign Exchange Commission) mentioned to stablise foreign exchange market, prevent Chinese yuan from sharp rise or fall. Previously Japan started to release 3.6 trillion Yen to slow down the fast depreciating Yen. Iron Ore Key Indicators: Platts62 $99.60, +0.85, MTD …
Iron Ore DCE January Daily Technical Review 28/09/22
Verdict – Short-term neutral. DCE iron ore January contract corrected and the trend stepped back to a consolidation range from 700.0- 728.5. The trading volume became narrower over the past three days. Thus market entered a watch-and-see mode. Hourly CCI approached bearish territory. Hourly MACD became flat. Short-run neutral. The first support is …
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Daily Virtual Steel Mill Report 28/09/22
Market Verdict on Iron Ore： Neutral to bullish. Macro China NBS: Jan- Aug industrial profit above designated scale amount reached 5.5 trillion yuan, down 2.1% on the year. Nord Stream AG found that three pipelines were damaged, which is unprecedented. The Company was not able to estimate when the natural gas transmission infrastructure will …
Iron Ore DCE January Daily Technical Review 27/09/22
Verdict – Short-term neutral. DCE iron ore January contract once approached 722.0, however returned to important area at 718.5, which used to be a strong resistance yesterday. Hourly CCI was close to bullish territory. Hourly MACD was preparing to enter bullish territory as well. A breakthrough on 728.0 would extend the growth. Otherwise iron …
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Iron Ore DCE January Daily Technical Review 26/09/22
Verdict – Short-term neutral. DCE iron ore January contract corrected and recovered loss during the day, closed with a doji. Houlry slow stochastic KD created gold cross above oversold area. Houlry MACD narrowed below 0 axis. Intra-day aggregated trading volume grew by 1/3. The 718.5 became important intra-day resistance. The first support is …
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Daily Virtual Steel Mill Report 26/09/22
Market Verdict on Iron Ore： Neutral to bullish. Macro To stabilize foreign exchange market expectations and strengthen macro prudential management, the People’s Bank of China has decided to raise the foreign exchange risk reserve ratio of forward exchange surrendering from 0-20%. U.S. Nasdaq corrected 5.03% during last week, total down 16.7% from August 12th, …
Iron Ore DCE January Daily Technical Review 23/09/22
Verdict – Short-term neutral to bullish. DCE iron ore January contract corrected significantly during the last trading hour, gave back major gains from yesterday. Iron ore expected to consilidate in 700.0 – 728.0 range area in short-run. Hourly MACD narrowed above 0 axis. Hourly slow stochastic KD created dead cross below overbougt area. Hourly …
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