FIS API Blog
Verdict – Short-term neutral. DCE iron ore January contract retreated with expanding volume, however the closing was higher than last trading day. The decrease in open interest indicated both previous buyers and sellers were leaving the market. The short-run high was confirmed at 736.5 area. Hourly CCI saw a rebound during last hour, along …
Continue reading “Iron Ore DCE January Daily Technical Review 29/08/22”
Market Verdict on Iron Ore： • Neutral. Macro • U.S. central PCE increased 4.6% year-on-year, est. 4.7%, last 4.8%, refreshed the lowest since February 2021. • Jan- July above designated industrial value added amount at 4.89 trillion yuan, down 1.1% on the year. Iron Ore Key Indicators: • Platts62 $105.80, +3.55, MTD $105.49. …
Verdict – Short-term neutral to bullish. DCE iron ore January contract rebounded with increasing volume after broke through previous resistance at 721.5. Hourly MACD maintained above 0 axis, as well as the bullish territory after August 19th. Hourly CCI increased significantly in bullish territory. The iron ore trend is in acceleration phase. However be …
Continue reading “Iron Ore DCE January Daily Technical Review 26/08/22”
Market Verdict on Iron Ore： • Neutral. Macro • U.S. federal official indicated that the 3.75- 4% was “approachable”. However inflation expected to last for longer time. • European central bank(ECB) monetary conference note indicated to increase 50 bps would be acceptable. Iron Ore Key Indicators: • Platts 62% $102.25, -0.25,MTD 105.46. Both …
Verdict – Short-term neutral. DCE iron ore January contract fell into neutral area although created higher highs and higher lows. Iron ore failed to expand volume and daily range narrowed after the early week spike. However iron ore maintained in an ascending tunnel from hourly chart, with strong support above 700.0 level. Hourly slow …
Continue reading “Iron Ore DCE January Daily Technical Review 25/08/22”
Market Verdict on Iron Ore： • Neutral. Macro • U.S. Markit Manufacturing PMI 51.3 in August, refreshed new low since July 2020. Eurozone Manufacturing PMI 49.7, refreshed new low of the past 26 months. • MySteel 170 power plants total coal inventories 26.17 million tons, down 267,000 tons w-o-w. Daily consumption 1.575 million tons, …
India’s steel minister has underlined the need for raw materials security and decarbonisation measures but is yet to announce any changes to taxes on iron ore and steel exports. “It is about time we commit ourselves to reduce our carbon emissions by a minimum of 30-40pc… the strategy should be based on carbon minimisation, carbon …
Continue reading “Indian Steel Minister Stresses Raw Materials Security 25/08/22”
Verdict – Short-term neutral to bullish. DCE iron ore January contract maintained bullish trend as expected. Although iron ore corrected massively this afternoon leading by the big slump of Asian equities, iron ore recovered all losses during last hour and still created higher highs and higher lows in the past three days. The market …
Continue reading “Iron Ore DCE January Daily Technical Review 24/08/22”
Market Verdict on Iron Ore： • Neutral to bullish. Macro • China NBS: July excavators produced 19,612 units, down 3.2% on the year. Jan-July total produced 185,743 units, down 25.6% on the year. Jan- July total sold 161,033 units, down 33.2% on the year. • World Steel Association statistic indicated that 64 member countries …
Verdict – Short-term neutral to bullish. DCE iron ore January successfully breakthrough the important resistance at 700.0, which used to be a level to see the most market reversals since the contract listed. Thus, 700.0 level is also seen as an intra-day level support from now on. Hourly slow stochastic KD created gold cross …
Continue reading “Iron Ore DCE January Daily Technical Review 23/08/22”
