Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China Q2 GDP grew by 7.9% year on year and 18.3% in Q1. In the first half of the year, the GDP was 53216.7 billion yuan, a year-on-year increase of 12.7%, 5.6% lower than that in the first quarter. · In June, the …
Tag archives: iron ore
Iron Ore DCE Sep Daily Technical Review 15/7/21
Verdict – Short-term neutral. DCE iron ore September rebounded for the fourth day of the week, however the high of the day was still below major resistance level around 1152.0. Hourly MACD flattened. Hourly CCI corrected from the bullish area. Hourly slow stochastic KD rebounded slowly. Technical signals were indicating an exhaustion of the rebound. …
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Daily Virtual Steel Mill Report 14/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China State Council conference mentioned to inspect the illegal speculation on commodities and tax evasion, which disturbed the market environment and the tax revenue. · U.S. June PPI reached 7.3%, core PPI reached 5.6%, both created record high. U.S. Federal Powell indicated Federal …
Iron Ore DCE Sep Daily Technical Review 14/7/21
Verdict – Short-term neutral. DCE iron ore September tested low first hour this morning and rebounded to opening level very fast. Iron ore was still in the consolidation range between 1152.0 – 1231.0. Hourly slow stochastic KD deepened correction after a dead cross. However MACD stabled and rebounded. Technical signals were neutral at the moment. …
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Daily Virtual Steel Mill Report 14/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China PM Li Keqiang held a economist conference to counter against economic cycle risk. Maintain the continuous effect of macro policy and avoid general liquidity release to the market. The RRR cut focus on special areas and structural demand, to benefit mid-small capital …
FIS Weekly Virtual Steel Margin Report 13/07/2021
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Iron Ore DCE Sep Daily Technical Review 12/7/21
Verdict – Short-term neutral. DCE iron ore September started to give back gains created by last Friday night session. The next session iron ore is facing correction risk. Hourly MACD created gold cross. Hourly CCI created a periodic rebound from July 8th. Hourly slow stochastic KD created gold cross and accelerated on the rebound. Technical …
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Daily Virtual Steel Mill Report 12/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · China central bank PBOC decrease RRR by 0.5% on July 15th, an equivalent of 1 trillion yuan. However PBOC strategy commissioner said the RRR cut was neutralizing the maturity of MLF, the entire liquidity system was balanced and stable. · A spokesman for …
Daily Virtual Steel Mill Report 8/7/21
Market Verdict on Iron Ore： · Iron ore short-run neutral. Macro · From January to June, the cumulative growth rates of domestic sales of large, medium and small excavators were 9.8%, 45.5% and 18.7% respectively. Although they still maintained the growth trend, but were 7.2%, 9.7% and 6.6% slower than previous five months. The growth …
Iron Ore DCE Sep Daily Technical Review 8/7/21
Verdict – Short-term neutral to bearish. DCE iron ore September rejected below previous high at 1252.0 level. From hourly chart, the iron ore was also rejected by 1204.0 level, which was close to a neckline of a double top pattern. The price movement and candle pattern were indicating iron ore price entered a corrective phase. …
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