Category archives: News

Iron Ore DCE May24 Daily Technical Review 11/01/24

Verdict- Neutral. DCE May24 contract reversed from periodic low at 952.5 created last night. Hourly MACD narrowed. Hourly slow stochastic KD rebounded fast after created gold cross in oversold area. Hourly CCI entered neutral area. The next resistance level at 990.0 potentially provide some pressure as price used to stay at this level for two …

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Daily Virtual Steel Mill Report 11/01/24

Verdict: • Short-run Neutral.   Macro: • The unexpected EIA report on the increasing oil inventories dragged down oil price by $1 overnight.   Iron Ore Key Indicators: • Platts62 $139.10, -0.30, MTD $141.53. The prompt demand was weak given a decreasing pig iron production, when mills started maintenance. The demand for February laycans was …

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