Market Verdict on Iron Ore： • Neutral. Macro • U.K. May CPI up 9.1%, est. 9.1%, refreshed the highest since 1982. May CPI up 0.7% from April. Iron Ore Key Indicators: • Platts62 $109.40, -6.50, MTD $133.82. Float base iron ore premium dropped massively from $2.8 to $0.45 over the last ten trading …
Tag archives: IO65
Iron Ore DCE September Daily Technical Review 22/06/22
Verdict – Short-term bearish. DCE iron ore September contract slumped during the day, the contract refreshed the biggest single week drop at 13.63% from September 2021. However, it is worth noting that iron ore also created three-year high open interest level at 1.3 million lots, indicating the current bearish trend was driven by new sellers. …
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Iron Ore DCE September Daily Technical Review 21/06/22
Verdict – Short-term neutral. DCE iron ore September contract terminated the consecutive eight corrective trading days and closed with the first white candle today. The price movement potentially keep in the higher and lower of the day in the next few trading days if volume start to decrease. The long position would need to …
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Daily Virtual Steel Mill Report 21/06/22
Market Verdict on Iron Ore： • Neutral. Macro • President of the Cleveland Federal Reserve Bank said that it would take two years for the inflation rate to fall to the Fed’s target of 2%, adding that the inflation rate would gradually “move down” from the current level. • The United States is considering …
Iron Ore DCE September Daily Technical Review 20/06/22
Verdict – Short-term bearish. Iron ore corrected as expected. September contract reached limit-down at 746.0 in the afternoon session. Iron ore created a normal gap from 775.0 – 790.0 area, a rejection in the gap area in mid-run would confirm another round of correction. However in short-run, as the aggregated open interest reached , …
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Daily Virtual Steel Mill Report 20/06/22
Market Verdict on Iron Ore： • Bearish. Macro • U.S. Energy Department indicated that U.S. appeal to increase oil production. A tanker carrying 650,000 barrels of Venezuelan crude oil destined Europe . This is the first time that Venezuela, under US sanctions, has exported crude oil to Europe in the past two years. • …
Iron Ore Future Drop To Six-Month Low On Worries About China’s Demand 20/06/22
Iron Ore Plunges Below $120 Amid Fresh Pessimism About Demand Iron ore has given up all its gains made earlier this year, with fresh demand pessimism triggering Monday’s decline of more than 5% amid reports that blast furnaces are idling plants. The lack of a meaningful buy-side recovery, slow end-user demand and a weak …
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Iron Ore DCE September Daily Technical Review 17/06/22
Verdict – Short-term bearish. Iron ore corrected as expected, the low open created a gap from the low of yesterday, which become a mid-run resisting area. Iron ore refreshed the biggest single day correction since April 25th. Hourly MACD corrected below 0 axis. Hourly slow stochastic KD approached oversold area. Hourly CCI approached bearish …
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Daily Virtual Steel Mill Report 17/06/22
Market Verdict on Iron Ore： • Neutral. Macro • U.S. White House officials were discussing to restrict fuel oil export, to control petroleum price below $5/gallon. Russian PM revealed that Russia would not reduce oil production. • BOE increased interest rate by 25bp to 1.25%, refreshed the highest since January 2009. • China NDRC …
Iron Ore DCE September Daily Technical Review 16/06/22
Verdict – Short-term bearish. Iron ore corrected slightly as expected yesterday, the high broke important resistance however lose this level in the next half hour. Trading volume narrowed compared with yesterday, indicating there was not too much confliction on the bearish trend. Hourly MACD consolidate below 0 axis. Hourly slow stochastic flatened along the …
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