Monthly archives: January 2024

Iron Ore DCE May24 Daily Technical Review 25/01/24

Verdict- Be Aware of Reversal. DCE May24 contract opened high however retreated all gains compared with high open last night. From hourly chart, MACD narrowed in bullish territory. Hourly slow stochastic KD created dead cross in overbought area. Hourly CCI corrected from bullish area to neutral area. The upward movement of iron ore saw exhaustion. …

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Daily Virtual Steel Mill Report 25/01/24

Verdict: • Short-run Neutral.   Macro: • OECD published reports that the global crude steel production reached 2.499 billion tons in 2023, up 57.1 million tons on the year, or 2.3%, up 91.6 million tons from 2019. • Eurozone January Manufacturing PMI reached 46.6, created 10-year-high, estimated 44.8, last 44.4.   Iron Ore Key Indicators: …

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