Market Verdict on Iron Ore： • Neutral. Macro： • The new British Chancellor of the exchequer overturned Prime Minister Truss’s huge energy subsidy plan. Supported by the news, the British pound rose 1.54%, and the FTSE index was nearly 1% by closing. • U.S. Industrial production growth rate increased 0.4% in September compared with …
Tag archives: iron ore
BHP Maintains 2022-23 Iron Ore Production Guidance 19/10/22
Australian resources firm BHP has kept its iron ore production guidance for the 2022-23 fiscal year to 30 June unchanged with sustained output. It produced 72.1mn t of iron ore during July-September, up by 2.2pc on a year earlier, reflecting a firm supply chain performance and reduced Covid-19 related impact, which was partially …
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Iron Ore DCE January Daily Technical Review 18/10/22
Verdict – Short-term neutral. DCE iron ore January contract closed half yuan higher than previous closing. Iron ore maintained weak during most of time today, as created lower lows periodically. At the same time, the intraday movement was rejected by 693.0-694.5 area twice. Hourly MACD created gold cross. Hourly slow stochastic KD created gold cross …
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Daily Virtual Steel Mill Report 18/10/22
Market Verdict on Iron Ore： • Neutral. Macro： • The new British Chancellor of the exchequer overturned Prime Minister Truss’s huge energy subsidy plan. Supported by the news, the British pound rose 1.54%, and the FTSE index was nearly 1% by closing. • U.S. EIA report indicated the biggest shale oil basin production estimated …
Rio Tinto Aims For Bottom Of 2022 Iron Ore Target 18/10/22
UK-Australian mining firm Rio Tinto expects to come in at the bottom of its 320mn-335mn t guidance for 2022, after shipping 82.92mn t on a 100pc basis from its Western Australian (WA) operations during July-September. The firm has a target of 85.71mn t for October-December to hit the bottom of its 2022 guidance, …
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Iron Ore DCE January Daily Technical Review 17/10/22
Verdict – Short-term neutral. DCE iron ore January recovered most of loss created in the first half hour of this morning during the last trading hour. In short-run, MACD narrowed below 0 axis. Hourly slow stochastic KD potentially create gold cross on oversold area. CCI approached neutral area from bearish territory. Short-run technical signals were …
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Daily Virtual Steel Mill Report 17/10/22
Market Verdict on Iron Ore： • Neutral. Macro： • The first day of Chinese National Congress stressed emphasis on real economy support, accelerating the industrialisation, manufacturing, product quality, aerospace, and digital development. • ECB official indicated that the 75 bps hike in October was appropriate. BOE indicated that interest rate should be raised to …
Iron Ore DCE January Daily Technical Review 14/10/22
Verdict – Short-term neutral. DCE iron ore January contract rebounded although with a low open during night session. Hourly slow stochastic KD left bearish territory. Hourly MACD potentially create gold cross. The next resistance on 5-10-20 MACD crossed near the 715.0- 716.0 area. Short-run neutral. The first support is 686.5. The first resistance is 715.0.
Daily Virtual Steel Mill Report 14/10/22
Market Verdict on Iron Ore： • Neutral. Macro： • U.S. September CPI up 8.2% y-o-y, est. 8.1%, last 8.3%. U.S. CPI up 0.4% m-o-m, est. 0.2%, last 0.1%. • China NBS: September CPI up 2.8%, refreshed high of the year, last 2.5%, est. 2.8%. China PPI September up 0.9%, est. 1.0%, last 2.3%. …
Iron Ore DCE January Daily Technical Review 12/10/22
Verdict – Short-term neutral. DCE iron ore January contract corrected during the day, however recovered some losses during the last trading hour. The iron ore potentially test next important support at 700.0. Hourly slow stochastic KD created gold cross. Hourly CCI left bearish territory to neutral territory. Short-run technicals were indicating an exhaustion on the …
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