Category archives: News

Daily Virtual Steel Mill Report 08/11/23

Verdict: • Short-run Neutral.   Macro: • China Ministry of Commerce announced revisions to a list of bulk commodities requiring to keep statistical records, which include rare earth and iron ore. However market participants expect no direct impact on the process of imports or quota change. • Australia Central Bank hiked interest rates by 25bps …

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Iron Ore DCE January24 Daily Technical Review 08/11/23

Verdict- Neutral. DCE Jan24 contract consolidated during the day, however the high of day was rejected by the previous periodic high area from 937.0- 938.0. Hourly MACD narrowed in bearish territory. Hourly slow stochastic KD created gold cross. Hourly CCI recovered from bearish territory to neutral area. First support 913.5. First resistance 938.0.