Monthly archives: July 2020

Verdict – Short-term bearish. Iron ore corrected two rounds during Asian hours and both with significant volume. From hourly chart, iron ore is creating lower highs and lower lows, correcting in a descending channel. Hour MACD is widening. Hourly slow stochastic KD has corrected from overbought area from July 22nd to areas above oversold area. …

Continue reading “Iron Ore DCE September Daily Technical Review Jul 24th”

Ferrous Market Updates –    MySteel researched 247 steel mills operation rate at 91.02%, up 0.26^ w-o-w, up 5.08% y-o-y. Blast furnace utilisation rate 93.08%, up 0.12% w-o-w, up 6.72% y-o-y. Daily pig iron production at 2.48 million tonnes, up 3,200 tonnes, up 178,800 tonnes w-o-w. –    Mysteel 45 ports iron ores inventory 113.25 million tonnes, …

Continue reading “Daily Ferrous Physical Review Jul 24th”