Market Verdict on Iron Ore： • Neutral. Macro • China Caixin December PMI 53.1, est. 51.7. Last 52.1. • China central bank PBOC: China financial system was generally stable. The lending rate for enterprises was below 5% in average, creating the new low historically. The Minister of Finance said the department will devoting in decrease …
Tag archives: IO65
Daily Virtual Steel Mill Report 6/1/22
Market Verdict on Iron Ore： • Neutral. Macro • In 2022, economists of some financial institutions in China generally believe that there are three main driving forces for promoting economic growth: investment in infrastructure construction is expected to rebound. Manufacturing investment is expected to continue to increase. Consumption is expected to continue to grow. • …
Iron Ore DCE May Daily Technical Review 5/1/22
Verdict – Short-term neutral. DCE iron ore May22 contract moved up and down in narrow range during the day, however the trading volume was less than half day trading volume compared to previous two trading days. The intra-day high 696.5 became the first resistance. The daily low around 681.0 area also created a short-run support …
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Daily Virtual Steel Mill Report 5/1/22
Market Verdict on Iron Ore： • Neutral. Macro • China PM Li Keqiang held general political conference to delay some income tax incentives, equal to 1.1 trillion yuan of tax cut annually. • China proposed to increase the self-sufficiency by 35% in copper, 20% in aluminum. In addition, increase scrap ratio by 30% in steel …
Iron Ore DCE May Daily Technical Review 4/1/22
Verdict – Short-term neutral to bullish. DCE iron ore May22 contract rebounded for three consecutive trading days. The trading volume was expanding if compared from session to session(only half trading days on Tuesday and previous Friday). Hourly slow stochastic KD approached the boundary of overbought area. Hourly CCI stayed in the bullish territory. Technical signals …
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Iron Ore DCE May Daily Technical Review 30/12/21
Verdict – Short-term neutral. DCE iron ore May22 contract tested high during Asian morning session and however gave back major gains during the afternoon session. The daily trading volume today and yesterday created the lowest from the previous eight trading days. The candles also indicated current market has no trend in short-run. Hourly MACD weakened …
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Daily Virtual Steel Mill Report 30/12/21
Market Verdict on Iron Ore： • Neutral. Macro • China PM Li Keqiang held general political conference to delay some income tax incentives, equal to 1.1 trillion yuan of tax cut annually. • China proposed to increase the self-sufficiency by 35% in copper, 20% in aluminum. In addition, increase scrap ratio by 30% in steel …
Iron Ore DCE May Daily Technical Review 29/12/21
Verdict – Short-term neutral to bearish. DCE iron ore May22 contract corrected significantly during the day and recovered major loss during the last half hour. The previous support 673.0 became a major resistance, which used to be a neckline of a multiple tops area – a traditional bearish top reversal pattern in long-run. However an …
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Daily Virtual Steel Mill Report 29/12/21
Market Verdict on Iron Ore： • Neutral to bearish. Macro • China Ministry of Industrial Information Technology vice chairman indicated that they have complied an implementation plan on non-ferrous, construction materials and petrol-chemical industry. At the same time, the new built capacity will be controlled. • China central bank PBOC: China financial system was generally …
Daily DCE Review 29/12/21
Iron ore futures continued to slide in the trading session today, amid market sentiment of slowing steel demand for the new year. The futures of Dalian Commodity Exchange (DCE) for January delivery then fell by 1.92% day-on-day or down RMB 13 to RMB 663/mt, during the day trading session on Wednesday. The rebar futures also …