Category archives: News

Iron Ore DCE May24 Daily Technical Review 02/01/24

Verdict- Be Aware of Market Reversal. DCE May24 contract created new high over active contracts since August 2021. Iron ore saw increasing positions significantly during the trading day. Houry MACD widened in bullish area. Hourly slow stochastic KD approached overbought area. Hourly CCI was stable at bullish area. Above 1000.0 level was absolute high for …

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Daily Virtual Steel Mill Report 02/01/24

Verdict: • Short-run Neutral.   Macro: • China December Manufacturing PMI 49.0, est. 49.5, last 49.4. Non-Manufacturing PMI 50.4, est. 50.5, last 50.2.   Iron Ore Key Indicators: • Platts62 $140.50, +1.60, MTD $136.37. Steel mills maintained low inventory levels during past week due to low steel margin. FMG widened the discounts for term contracts …

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