Monthly archives: May 2022

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 …

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Daily Capesize Review 18/5/22

Capesize freight rates rose further on tight vessel supply and a flurry of trades done for the June contracts. The Capesize 5 time charter average, then rose by $1,777 day-on-day to $34,531 on Wednesday, after a bullish trading session. The Baltic Dry Index (BDI) then rose by $94 day-on-day, or up 3.04% day-on-day to $3,189, …

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