Category archives: News

Iron Ore DCE January24 Daily Technical Review 19/10/23

Verdict- Neutral. DCE Jan24 contract tested high and rejected by similar level at 875.0. Hourly MACD narrowed in bearish territory. Hourly CCI rejected by bullish territory. A breakthrough on 875.0- 881.5 would trigger an acceleration on the growth. Otherwise, iron ore potentially maintain consolidation in neutral sentiment. First support 857.5. First resistance 881.5.  

Daily Virtual Steel Mill Report 19/10/23

Verdict: • Short-run Neutral.   Macro: • US 10-Year-Bond yield reached 4.845%, the highest since July 2007. • IMF report estimated Asia-Pacific growth rate reached 4.6% in 2023.   Iron Ore Key Indicators: • Platts62 $118.35, -2.00, MTD $118.50. Seaborne iron ore saw stable trades during the week, most of which were fixed price trade. …

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