Market Verdict on Iron Ore： • Neutral. Macro • U.S. Federal decided to increase interest rates by 75 basis points to 1.5- 1.75%, created the biggest single time rate hike since 1994. • U.S. Financial Department statistic indicated that Chinese investors decrease U.S. bond holding to 1.003 trillion dollars. Japan decreased to the lowest …
Tag archives: IO65
Iron Ore DCE September Daily Technical Review 15/06/22
Verdict – Short-term bearish. Iron ore corrected as expected yesterday, with expanding volume and broke down two important support at 900.0 and 875.5 respectively. Hourly MACD went back to bearish area below 0 axis. Hourly CCI refreshed two-month low. Short-run technicals were indicating the correction in continuance. The first support is 806.0,the first …
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Daily Virtual Steel Mill Report 15/06/22
Market Verdict on Iron Ore： • Neutral. Macro • U.S. May PPI up 10.8% y-o-y, est. 10.9%, last 11%. • ECB official indicated that July interest rate increase 25 basis points, and expect a 25 basis points increase in September. • Gazprom announced that the gas supply through the Nord Stream about 100 million …
Iron Ore DCE September Daily Technical Review 14/06/22
Verdict – Short-term bearish. Iron ore corrected as expected yesterday. September contract daily candles created two long lower shadows with expanding volume, indicating the buyers and sellers have some conflictions on current level and exhausted. Thus the price falling expected to slow down. Hourly MACD potentially created gold cross below 0 axis. Hourly slow …
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Daily Virtual Steel Mill Report 14/06/22
Market Verdict on Iron Ore： • Bearish. Macro • U.S. S&P500 corrected by 4%, confirming an entrance into bear market analysed by Wallstreet analysts. However the Executive Director of Morgan Stanley James P Gorman believed that the probability of a recession in the US economy is 50%, but any downturn is unlikely to be …
Iron Ore DCE September Daily Technical Review 13/06/22
Verdict – Short-term bearish. Iron ore corrected as expected from last week. Iron ore traded with expanding volume compared to late half of last week with some previous taking gains investors leaving market. Hourly MACD corrected below 0 axis. Hourly slow stochastic corrected in line with iron ore prices after the last dead cross …
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Daily Virtual Steel Mill Report 13/06/22
Market Verdict on Iron Ore： • Neutral to bearish. Macro • Shanghai financial department statistic indicated that 9472 enterprises above designated scale resumption rate reached 96%, utilisation rate reached 69%, up 20% from the first week of June. Daily electronic consumption up 5.6% last week, which was 86% during same period over last year. …
Iron Ore DCE September Daily Technical Review 10/06/22
Verdict – Short-term neutral to bearish. Iron ore started to slowly head down after rejected on the strong resistance of 945- 948.0 during the week, DCE saw IO interest around two-year high. Maintaining the view from previous reports, it is hard to expect a big breakthrough given a limited amount of new buyers. Hourly …
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Daily Virtual Steel Mill Report 10/06/22
Market Verdict on Iron Ore： • Neutral. Macro • China May CPI up 2.1% y-o-y, est. 2.2%, last 2.1%. May PPI up 6.4%, est. 6.4, last 8%. • China Customs statistic indicated that during Jan to May 2022, China imported 447 million tons of iron ores, down 5.1%. China imported 95.96 million tons of …
Iron Ore DCE September Daily Technical Review 09/06/22
Verdict – Short-term neutral to bearish. Iron ore rejected by 945- 948.0 area for the fourth day, DCE saw IO interest around two-year high. Maintaining the view from previous reports, it is hard to expect a big breakthrough given a limited amount of new buyers. Hourly MACD narrowed below 0 axis. Hourly CCI corrected …
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