Iron Ore DCE September Daily Technical Review 28/06/22

Verdict – Short-term neutral.   DCE iron ore September contract broke important previous resistance around 790.0 level, which was a upper boundary of a gap. Be aware that aggregated open interest level was still running at three-year high. Gains taking on both sides could trigger a big intra-day level movement. Previous resistance790.0 became the first …

Daily Virtual Steel Mill Report 28/06/22

Market Verdict on Iron Ore: • Neutral.   Macro • During the first five months of 2022, Chinese industrial enterprises above designated scale reached 3.44 trillion yuan, up 1% on the year. Jan- Apr growth was 3.5%. The revenue growth reached 6.8% on the year.   Iron Ore Key Indicators: • Platts62 $119.60, +4.60, MTD …