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 …

Iron Ore DCE Jan25 Daily Technical Review 26/08/24

Verdict- Neutral to Bullish. DCE iron ore saw rebound with increasing volume. The price level approached 750, however iron ore potentially breakthrough this level and challenge 788.5 in mid-run. Hourly MACD reached bullish territory. Hourly slow stochastic KD rebounded after created gold cross above oversold area. Iron ore potentially test high in next session. First …