Iron Ore DCE September Daily Technical Review 06/06/22

Verdict – Short-term neutral to bearish.   DCE iron ore September contract reversed after refreshing listed high at 948.0 and gave back all gains created during the day. The return to bull needs to see changing hands, because aggregated open interested has reached the two-year high, indicating new long positions need to confirm a short-run …

Daily Virtual Steel Mill Report 06/06/22

Market Verdict on Iron Ore: • Neutral to bullish.   Macro • China Auto Sales recover significantly in May. According to China Automobile Association statistics, China may vehicle sales 1.76 million units, up 49.59% from April, down 17.06% y-o-y. China January to May sales 9.45 million units, down 13.11% y-o-y. • Russia announced that the …