Iron Ore DCE January Daily Technical Review 03/11/22

Verdict – Short-term neutral to bullish. DCE iron ore January contract rebounded as expected, refreshed higher highs and lows for three consecutive days. Iron ore trade volume decreased for the current two trading days with almost flat interest change, indicating the market potentially maintain slight bullish in the next few sessions. The first support is …

Daily Virtual Steel Mill Report 03/11/22

Market Verdict on Iron Ore: • Neutral to bullish.   Macro: • U.S. FOMC increased interest rate by 75 bps to 3.75%-4%, as expected. However Jerome Powell speech mentioned the Federal potentially increase the target interest rate to 5%. U.S. stock index correct massively after the speech. • ECB president Christine Lagarde said that the …