Market Verdict on Iron Ore： · Neutral. Macro · China Ministry of Foreign Affairs spokesperson Hua Chunying announced that China Chairman Xi will hold a internet conference with U.S. president Biden. Market understand as a step forward and ease of the two countries. · 21 China cities published a price floor on houses to avoid …
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Iron Ore DCE Jan Daily Technical Review 12/11/21
Verdict – Short-term neutral. DCE iron ore Jan22 gave back most of gains created by yesterday, and returned to a narrower consolidation range. The intra-day low was higher than last low, as well as the afternoon trading volume on Jan22 contract was extremely small compared to previous days of the week, which indicated market was …
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Daily Virtual Steel Mill Report 12/11/21
Market Verdict on Iron Ore： · Neutral. Macro · The European Commission raised its inflation outlook for the euro area this year and next year, which is expected to be 2.4% and 2.2% respectively, but it is expected that inflation in the euro area will slow significantly to 1.4% in 2023, lower than the 2% …
Iron Ore DCE Jan Daily Technical Review 11/11/21
Verdict – Short-term neutral to bullish. DCE iron ore Jan22 created the biggest single day increase since August 24th, and following with higher highs and higher lows. Daily slow stochastic KD created gold cross in oversold area. Daily CCI entered neutral area from bearish territory. Hourly MACD widened above 0 axis. Hourly CCI entered bullish …
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Daily Virtual Steel Mill Report 11/11/21
Market Verdict on Iron Ore： · Neutral to bullish. Macro · China Evergrande paid interests to bondholders of debts expiring in the year 2022, 2023 and 2024 totaled 148 million U.S. dollars. · U.S. president Biden indicated control inflation was the most important thing, energy cost increase caused price increase. Biden also required Federal Trade …
Iron Ore DCE Jan Daily Technical Review 10/11/21
Verdict – Short-term neutral. DCE iron ore Jan22 refreshed listed low, however recovered half of losses during Asian afternoon following the rebound of equity market. Hourly MACD narrowed below 0 axis. Hourly slow stochastic KD created gold cross near the boundary of oversold area. Hourly CCI left bearish territory fast. Short-run technical were indicating a …
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Daily Virtual Steel Mill Report 10/11/21
Market Verdict on Iron Ore： · Neutral to bearish. Macro · China October CPI up 1.5% y-o-y, est. 1.3%, last 0.7%. China October PPI 13.5% y-o-y, est. 12%, last 107% y-o-y. U.S. PPI up 8.6% y-o-y, a ten-year-high. · U.S. ADP statistics indicated jobs increased 571,000 in October, est. 400,000, which created the highest since …
Iron Ore DCE Jan Daily Technical Review 5/11/21
Verdict – Short-term neutral. DCE iron ore Jan21 refreshed low again and created two consecutive correction with lower highs and lows. However the support was strong around 552.5- 557.5 area. A breakdown on this area would trigger a big correction. Otherwise iron ore expected to exhaust in the narrow area. Hourly MACD narrowed above 0 …
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Daily Virtual Steel Mill Report 5/11/21
Market Verdict on Iron Ore： · Neutral. Macro · The U.S. Taper has no essential relations to interest rate increase, since Taper was focusing on less purchase on T-bonds. Some macro analysts believed that the interest rate potentially start in the Q4 of the year 2022. · China NDRC: Encouraging the China domestic iron ore …
Iron Ore DCE Jan Daily Technical Review 4/11/21
Verdict – Short-term neutral. DCE iron ore Jan21 refreshed listed low during the last few minutes of night session yesterday. However iron ore strongly recovered this morning. DCE iron ore technically consolidate in a range box of 557.5- 597.0 area, price movement gradually slow down within this area. Hourly MACD indicated a neutral after narrowing …
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