Monthly archives: June 2023

Iron Ore DCE September23 Daily Technical Review 20/06/23

Verdict- Neutral. DCE Sep23 contract corrected for the second trading day. A further breakdown on 799.0 potentially drive iron ore to a correction. Hourly MACD stayed in bearish area for 90% of times from June 9th. Hourly CCI rebounded from bearish territory to neutral area. Short-run technical was indicating a neutral sentiment at the moment. …

Continue reading “Iron Ore DCE September23 Daily Technical Review 20/06/23”

Daily Virtual Steel Mill Report 20/06/23

Market Verdict on Iron Ore： • Neutral.   Macro： • China 1-year length and 5-year length Loan Prime Rate down 10 bps, previously maintained unchanged for 9 months. • China NBS: China produced 16,613 units of excavators, down 25.9% on the year. Total produced 117,524 units of excavators, down 17.8% on the year.   Iron …

Continue reading “Daily Virtual Steel Mill Report 20/06/23”

Iron Ore DCE September23 Daily Technical Review 19/06/23

Verdict- Neutral. DCE Sep23 contract corrected the growth of Friday. As expected, iron ore in DCE maintained a neutral sentiment during the past four trading days. The periodic high became the first resistance level. The first support at 802.0 became a neckline level from hourly chart. Hourly MACD widened in bearish territory. Hourly CCI approached …

Continue reading “Iron Ore DCE September23 Daily Technical Review 19/06/23”