Category archives: News

Iron Ore DCE January24 Daily Technical Review 05/12/23

Verdict- Neutral. DCE Jan24 contract traded in narrow rangebound today. From hourly chart, MACD created gold cross. Slow stochastic KD created gold cross above oversold area. There is currently no obvious trend movement for iron ore. The current price potentially gain support above 950.0- 954.0 area in short-run. First support 941.0. First resistance 983.0.  

Daily Virtual Steel Mill Report 05/12/23

Verdict: • Short-run Neutral.   Macro: • U.S. factory orders fell 3.6% on a monthly basis in October, which was larger than the expected 2.6% drop and was the lowest level since April 2020. • The Passenger Car Association of China estimated that wholesale sales of new energy passenger vehicles in November will be 940,000 …

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