Iron Ore DCE September Daily Technical Review 28/07/22

Verdict – Short-term bullish.   DCE iron ore September recovered loss from yesterday and refreshed new high from June 30th with expand volume. The breakthrough on resistance of 822.5 would confirm the price movement remaining strong. Otherwise, rejection would mean a considerable correction because current indicators were showing big volatilities rather than a flat structure. …

Daily Virtual Steel Mill Report 28/07/22

Market Verdict on Iron Ore: • Neutral to bullish.   Macro • U.S. Federal increased 75 basis points in last FOMC to 2.25-2.5%, as expected. • G7 revealed to set up a price-ceiling for Russian oil effective from December 5th.   Iron Ore Key Indicators • Platts62 $111.05, -0.65, MTD $106.24. The term contract discounts …