Market Verdict on Iron Ore： · Neutral. Macro · U.S. FOMC meeting decided the market expected to start Taper during an unchanged interest rate by decreasing 15 billion U.S. dollars of T-Bond purchase per month. U.S. federal believed would support economic activities and jobs, at the same time counter against inflation risk. · U.S. ADP …
Tag archives: iron ore
Iron Ore DCE Jan Daily Technical Review 3/11/21
Verdict – Short-term neutral to bullish. DCE iron ore started recovery sentiments after a big slump over the past five trading days. The opening slight high last night indicated smart money was not very pessimistic on the current market. Iron ore rebound fast during the day from a negative 3% to negative 0.42% by closing. …
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Daily Virtual Steel Mill Report 3/11/21
Market Verdict on Iron Ore： · Neutral. Macro · U.S. secretary of commerce Gina Raimondo said the cancellation of U.S. – E.U. metal tax would help to counter against U.S. high inflation rate. · Instituite of International Finance data indicated the interest rate undermined the new funds entry of equity sector in new emerging market, …
Weekly Virtual Steel Margin Report 02/11/2021
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Iron Ore DCE Jan Daily Technical Review 1/11/21
Verdict – Short-term neutral to bearish. DCE iron ore Jan contract volatile in narrow range during the day, however saw lower lows and lower highs. Iron ore was running in a descending tunnel. Hourly CCI decreased to the lowest since September 17th. Slow stochastic KD consolidate in netural range. Hourly MACD created dead cross below …
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Daily Virtual Steel Mill Report 1/11/21
Market Verdict on Iron Ore： · Neutral. Macro · China National Bureau of Statistics: China October PMI 49.2, last 49.6, est. 49.7. The second month located in the contraction area. · G20 countries drafted plan will take the maximum efforts to stop new build coal-based electricity power generating program. Iron Ore Key Indicators: · Platts …
Iron Ore DCE Jan Daily Technical Review 29/10/21
Verdict – Short-term neutral to bearish. China thermal coal futures and coking coal futures all reached limit-down which bring back a bearish sentiment on all ferrous market. Iron ore corrected and breakdown important support level around 639.0 – 643.0 and went back to descending tunnel. Hourly MACD widened below 0 axis. Hourly CCI went into …
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Daily Virtual Steel Mill Report 29/10/21
Market Verdict on Iron Ore： · Neutral. Macro · China CCTV news: U.S. trade representative Katherine Tai seek to ease trade relations with China in a U.S. poultry conference. · U.S. Q3 GDP up 2% y-o-y, Q2 up 6.7%. The slowing down on GDP growth rate was far beyond expectation. Iron Ore Key Indicators: · …
Iron Ore DCE Jan Daily Technical Review 28/10/21
Verdict – Short-term neutral. DCE iron ore January contract tested low in Asian morning however recover most of losses during this afternoon. The contract created a monthly low. However the quick rebound on the low indicated iron ore was not ready to test low in following sessions. Hourly KD created gold cross. Hourly CCI went …
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Daily Virtual Steel Mill Report 28/10/21
Market Verdict on Iron Ore： · Neutral. Macro · China PM Liu He had a video conference with U.S. Treasury Secretary Yellen. The conference revealed the expectation on tax exemption. · China state council issued details on emission peak. At the year 2030, China non-fossil energy expecting to reach 25% of whole energy usage. · …