Market Verdict on Iron Ore： • Neutral. Macro • U.S. Energy Bureau indicated that U.S. would release up to 4,010 barrels of crude oil. • Reuters indicated that Tesla factory in Shanghai would recover the production to pre-pandemic level in a few days. Iron Ore Key Indicators: • Platts62 $130.50, -5.45, MTD $133.17. …
Tag archives: iron ore
Iron Ore DCE September Daily Technical Review 24/05/22
Verdict – Short-term neutral. DCE iron ore September climbed fast in the first minute, rejected by the high of May 6th. Iron ore gave back half of gains by closing. Hourly slow stochastic KD created dead cross near the boundary of overbought area. Hourly CCI corrected to neutral area. MACD narrowed above 0 axis. …
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Daily Virtual Steel Mill Report 24/05/22
Market Verdict on Iron Ore： • Neutral. Macro • Li Keqiang presided State Council meeting and implemented 33 measures in six areas, mainly including: annual tax rebate and reduction of 2.64 trillion yuan, doubling the amount and proportion of loan tools to small capitals, removing unreasonable restrictions and fees in the supply chain, promoting …
Iron Ore DCE September Daily Technical Review 23/05/22
Verdict – Short-term neutral to bullish. DCE iron ore September climbed fast in the first minute, rejected by the high of May 6th. Iron ore gave back half of gains by closing. Hourly slow stochastic KD created dead cross near the boundary of overbought area. Hourly CCI corrected to neutral area. MACD narrowed above …
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Daily Virtual Steel Mill Report 23/05/22
Market Verdict on Iron Ore： • Neutral to bullish. Macro • St. Louis Fed chairman James Bullard said the Fed should implement a series of aggressive interest rate hikes in advance and raise interest rates to 3.5% by the end of the year. If successful, Fed will effectively lower inflation and may cut interest …
Iron Ore DCE September Daily Technical Review 20/05/22
Verdict – Short-term neutral to bullish. DCE iron ore September rebound as expected from last report, however volume declined significantly and the high was rejected previous reversal area at 848.5. Slow stochastic KD potentially create dead cross near overbought area. Hourly CCI reached bullish territory. Technical signals were indicating a potential to test high, …
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Daily Virtual Steel Mill Report 20/05/22
Market Verdict on Iron Ore： • Neutral to bullish. Macro • The minutes of the ECB meeting showed that ECB members were generally worried about high inflation data. The ECB should end its asset purchase program “in the first few weeks of the third quarter” and raise interest rates “for some time afterwards”. • …
Iron Ore DCE September Daily Technical Review 19/05/22
Verdict – Short-term neutral to bullish. DCE iron ore September contract tested the support near 780.0, however resisted by 777.0 with expanding volume. 777.0 – 780.0 would still become an important support level in mid-run. Hourly slow stocahstic KD created gold cross above oversold area. Hourly MACD potentially create gold cross. Short-run technical signals …
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Daily Virtual Steel Mill Report 19/05/22
Market Verdict on Iron Ore： • Neutral. Macro • The U.N. decreased the global economy growth rate at 3.1%, lower than 4% expectation estimated in January. Expected inflation rate at 6.7%, nearly trippled the average inflation level from 2010- 2020, contributed by the massive increase on grains and energy price. • U.K. CPI up …
Iron Ore DCE September Daily Technical Review 18/05/22
Verdict – Short-term bearish. DCE iron ore September contract broke down the import support at 800.0 area with growing volume compared with yesterday. Hourly CCI went into bearish territory. Hourly slow stochastic KD deepened correction. Hourly MACD created dead cross above 0 axis. Iron ore short-run entered a correction phase to test the support …
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