Category archives: News

Daily Virtual Steel Mill Report 16/01/24

Verdict: • Short-run Bearish.   Macro: • The world bank published global economy outlook, mentioned global economy growth by 2.4% in 2024, unchanged with expectation at June 2024. The estimated growth rate of 2025 reached 2.7%, 0.3% lower than expected. • Rio Tinto published Q4 production and consumption report, Q4 iron ore production at 87.5 …

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Iron Ore DCE May24 Daily Technical Review 15/01/24

Verdict- Neutral to Bearish. DCE May24 contract corrected as expected. Iron ore saw increasing aggregated volume however a 13.7% open interest loss from January 13th , when iron ore May24 reached listed high. Hourly CCI reached bearish territory. Hourly MACD walked in bearish territory. Iron ore potentially test low in next few sessions. First support …

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Daily Virtual Steel Mill Report 15/01/24

Verdict: • Short-run Bearish.   Macro: • China Chief Economist Forum expected the infrastructure investment growth would reach 8%, CPI up 1.5% in 2024. • The escalation of RedSea confliction forced more ships changed routes to avoid RedSea in long-run.   Iron Ore Key Indicators: • Platts62 $131.20, -4.55, MTD $138.94. As the winter stock …

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