Monthly archives: May 2024

Iron Ore DCE Sep24 Daily Technical Review 16/05/24

Verdict- Neutral. DCE Sep24 rebounded during the day as we mentioned signals of rebound. However, from hourly chart iron ore saw three lower highs and lower lows, which created a downward trend. A reversal of this trend need to break through 890.0 – 902.0 area. Hourly MACD widened in bullish area. Hourly slow stochastic KD …

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Daily Virtual Steel Mill Report 16/05/24

Verdict: • Short-run Neutral to Bearish.   Macro: • US April CPI up 3.4%, est. 3.4%, last 3.5%. PCE down 3.6% on the year, created biggest annual basis drop since April 2021. Iron Ore Key Indicators: • Platts62 $114.15, -0.90, MTD $116.78. The pellets were traded higher during this week in Asian market. However the …

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