Monthly archives: August 2024

Iron Ore DCE Jan27 Daily Technical Review 28/08/24

Verdict- Neutral to Bullish. DCE iron ore corrected slightly during the trading day. Hourly MACD created dead cross. Hourly CCI entered neutral area from bullish territory. Hourly slow stochastic KD started to correct after a dead cross created in bullish territory. Short-run technical signals were indicating an exhaustion on previous rebound. However we maintain bullish …

Continue reading “Iron Ore DCE Jan27 Daily Technical Review 28/08/24”

Daily Virtual Steel Mill Report 28/08/24

Verdict: • Short-run Neutral to Bullish.   Macro: • China January to July industrial profit above designated scale reached 4.099 trillion yuan, up 3.6% on the year. Steel industry loss at 2.76 billion yuan. • Brazil miner Samarco estimated to increase iron ore capacity by 60% by the end of 2024, among which pellet capacity …

Continue reading “Daily Virtual Steel Mill Report 28/08/24”