Category archives: News

Iron Ore DCE May24 Daily Technical Review 08/12/23

Verdict- Neutral. DCE May24 contract retreated from periodic high at 975.5. The fast correction was related to taking gains. The next support band located from 941.5- 950.0 area. Hourly MACD narrowed above bullish territory. Hourly slow stochastic KD created dead cross in overbought area. Hourly CCI dropped from bullish territory to neutral area. First support …

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Daily Virtual Steel Mill Report 08/12/23

Verdict: • Short-run Neutral.   Macro: • China imported 102.74 million tons of iron ore, up 3.36 million tons on the month, or 3.4%. The first 11 months in 2023 imported 1.078 trillion tons of iron ore, up 6.2% on the year. • China imported 43.506 million tons of coals, up 7.514 million tons on …

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