Market Verdict on Iron Ore： • Neutral to bullish. Macro • China NBS published July CPI annual rate up 2.7%, expand 0.2% compared with June, refreshed the highest since August 2020. PPI July up 4.2%, narrowed 1.9% compared with June, created consecutive decrease for nine months. Both numbers were lower than expectations. Iron …
Tag archives: iron ore
Iron Ore DCE January Daily Technical Review 09/08/22
Verdict – Short-term neutral. DCE iron ore January contract successfully broke through 745.0 level however corrected fast and gave back half gains created by yesterday. Market saw divergence views in near periodic high with expanding volume. Hourly slow stochastic KD created gold cross in overbought area. Hourly MACD created dead cross. Iron ore needs …
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Daily Virtual Steel Mill Report 09/08/22
Market Verdict on Iron Ore： • Neutral. Macro • U.S. New York Federal survey indicated that the future three-year inflation expectation fell from 3.6% to 3.2%. Iron Ore Key Indicators: • Platts62 $108.80, +1.85, MTD $108.98. The term contract discounts for FMG in August widened in August, however market participants indicated that the …
Iron Ore DCE January Daily Technical Review 08/08/22
Verdict – Short-term neutral. DCE iron ore January contract rebounded significantly during Friday night session, however stay flat during most time of Monday. The previous high at 745.0- 745.5 level provided effective resistance. Thus iron ore needs to breakthrough 745.0 with expanding volume to return to the fast rebound tunnel. Hourly slow stochastic potentially …
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Daily Virtual Steel Mill Report 08/08/22
Market Verdict on Iron Ore： • Neutral to bullish. Macro • EU started to ban Russian coals shipping from August 10th. • U.S. new added jobs in July created the biggest increase since February, which strengthened the expectation of 75 bps rate hike in September. Iron Ore Key Indicators: • Platts62 $106.95, +3.15, …
Iron Ore DCE January Daily Technical Review 05/08/22
Verdict – Short-term neutral to bullish. DCE iron ore January contract recovered all loss created yesterday and moved back to the rebound trend. Hourly MACD created gold cross near 0 axis. Hourly slow stochastic KD created gold cross in oversold area. Hourly CCI reached bullish territory. Short-run technicals were indicating iron maintain rebound in …
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Daily Virtual Steel Mill Report 05/08/22
Market Verdict on Iron Ore： • Neutral. Macro • BOE increased interest rate by 50 basis points to 1.75%, created the biggest one-time hike during the past 27 years. BOE expect the inflation rate would reach roof area at 13.3% in this October. BOE expect U.K. economy would enter into recession from this Q4. …
Iron Ore DCE September Daily Technical Review 03/08/22
Verdict – Short-term neutral. DCE iron ore September gave back the last rebound, currently maintaining in the area from 768.0 – 817.5. A breakthrough out of this band would indicate a potential to create a direction. Otherwise, iron ore potentially exhaust and move in narrower range. Hourly MACD narrowed below 0 axis. Hourly slow …
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Daily Virtual Steel Mill Report 03/08/22
Market Verdict on Iron Ore： • Neutral. Macro • U.S. Federal pushed back against a narrative that policy makers are envisioning a pivot away from tightening. Four Federal distinct-bank presidents highlighted in remarks on Tuesday that there was no sign yet of inflation easing. • China July Machinery Index 96.55, down 12.18% on the …
Daily Virtual Steel Mill Report 02/08/22
Market Verdict on Iron Ore： • Neutral. Macro • China MIIT calculated the scrap input ratio in steelmaking reaching 15%, accounting for 180 million tons in 2025. In 2030, the ratio expected to reach 20%. • China Caixin Manufacturing PMI in July 50.4, 1.3 lower than June. U.S. Markit Manufacturing PMI 52.2, est. 52.3, …