Category archives: News

Daily Virtual Steel Mill Report 22/12/23

Verdict: • Short-run Neutral.   Macro: • US Q3 GDP annual rate at 4.9%, less than expected 5.2%. Q3 PCE consumer price index up 2% on the year, lower than expected 2.3%. • China tax council announced a new list of tax exemption and preference lists covering as many as 8957 items of commodities, including …

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Iron Ore DCE May24 Daily Technical Review 21/12/23

Verdict- Neutral to Bullish. DCE May24 contract broke important resistance at 958.0, and accelerated rebound as expected. The next level was 975.5, listed high of May24 in DCE. Hourly CCI went high in bullish territory. Hourly slow stochastic KD entered overbought area. Hourly MACD widened in bullish territory. First support 933.5. First resistance 975.0.  

Daily Virtual Steel Mill Report 21/12/23

Verdict: • Short-run Neutral.   Macro: • EIA statistics indicated that US crude oil production reached 13.3 million barrels/day, refreshed historical high. • UK CPI in November down 0.2% on the month, created the first negative number since July.   Iron Ore Key Indicators: • Platts62 $134.95, +1.15, MTD $134.80. Seaborne market regained popularity after …

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