Tag archives: IO65

Daily Virtual Steel Mill Report 13/10/21

Market Verdict on Iron Ore： ·         Neutral. Macro ·         IMF decreased the global economy growth expectation and sent warning on stagflation. The global economy growth rate in July report decreased from 6% to 5.9% in the year 2021. The growth rate in the year 2022 expected at 4.9%. Iron Ore Key Indicators: ·         Platts62 $128.50, …

Continue reading “Daily Virtual Steel Mill Report 13/10/21”

Iron Ore DCE Jan Daily Technical Review 11/10/21

Verdict – Short-term bullish. DCE iron ore January contract maintained bullish during the day. Daily 5 day moving average, 10 day moving average and 20 day moving average have created two sets of gold cross, which reversed the previous bearish market to a rebound market. Hourly slow stochastic KD entered bullish territory. Hourly CCI entered …

Continue reading “Iron Ore DCE Jan Daily Technical Review 11/10/21”

Daily Virtual Steel Mill Report 8/10/21

Market Verdict on Iron Ore： ·         Bullish. Macro ·         U.S. increased 194,000 jobs in September, which was significantly below expectation around 500,000 jobs increase, previous number was increase by 235,000 jobs. ·         China PM Li Keqiang held conference to ensure the winter and early spring supply and coal and electricity. The conference widened the floating …

Continue reading “Daily Virtual Steel Mill Report 8/10/21”

Iron Ore DCE Jan Daily Technical Review 29/9/21

Verdict – Short-term neutral to bullish. DCE iron ore January contract rebounded as expected in last few days. However rejected by 705.5. The lower support of 661.5 was a strong support area. Hourly KD created gold cross. Hourly MACD created gold cross. Hourly CCI approached bullish territory. The next round of aggressive movement needs a …

Continue reading “Iron Ore DCE Jan Daily Technical Review 29/9/21”

Daily Virtual Steel Mill Report 29/9/21

Market Verdict on Iron Ore： ·         Neutral. Macro ·         According to the China National Bureau of Statistics, from January to August, industrial enterprises above designated size achieved a total profit of 5605.14 billion yuan, a year-on-year increase of 49.5%, an increase of 42.9% over January to August 2019, and an average increase of 19.5% over …

Continue reading “Daily Virtual Steel Mill Report 29/9/21”

Iron Ore DCE Jan Daily Technical Review 27/9/21

Verdict – Short-term neutral to bullish. DCE iron ore January contract maintained rebound during the day. From daily chart, MA5 and MA10 potentially create gold cross in the following two trading days. From hourly chart slow stochastic created a dead cross on the boundary of overbought area. If a breakthrough on major resistance at 715.0, …

Continue reading “Iron Ore DCE Jan Daily Technical Review 27/9/21”

Daily Virtual Steel Mill Report 27/9/21

Market Verdict on Iron Ore： ·         Neutral. Macro ·         Guangdong Province, China appealed to stop electricity usage in low floors. Liaoning province electricity supply triggered serve shortage level because of the sudden decrease on wind power. Inner Mongolia started to stop operation in 6 out of 11 steel mills. Iron Ore Key Indicators: ·         Platts62 …

Continue reading “Daily Virtual Steel Mill Report 27/9/21”

Iron Ore DCE Jan Daily Technical Review 24/9/21

Verdict – Short-term neutral. DCE iron ore January contract slight rebound but in general neutral, as expected yesterday. Hourly slow stochastic KD was brewing a breakthrough on the lower bound of overbought territory. Hourly CCI was testing the support on the lower bound of bullish territory. However from daily chart, MACD created gold cross. Daily …

Continue reading “Iron Ore DCE Jan Daily Technical Review 24/9/21”