Iron Ore DCE September Daily Technical Review 29/07/22

Verdict – Short-term neutral.   DCE iron ore September corrected with both decreasing open interest and volume. Thus, iron ore potentially faces a correction or consolidation. Hourly slow stochastic KD corrected to neutral area after a dead cross created in overbought area. Hourly MACD created dead cross.   The first support is 755.5. The first …

Daily Virtual Steel Mill Report 29/07/22

Market Verdict on Iron Ore: • Neutral to bullish.   Macro • China and U.S. held tele-conference to discuss on the cooperation in economy development in future, and noted the tariff exemption to alleviate the inflation in U.S.   Iron Ore Key Indicators: • Platts62 $117.95, +6.90, MTD $106.86. The term contract discounts for BHP’s …