Category archives: News

Daily Virtual Steel Mill Report 30/11/23

Verdict: • Short-run Neutral.   Macro: • European Central Bank Governing Council member said that the first interest rate cut may be carried out in mid-2024, and the bet on the ECB’s interest rate cut in April next year seems a bit optimistic. The governor expected the economy to grow by 2.4% in 2023 and …

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Iron Ore DCE January24 Daily Technical Review 29/11/23

Verdict- Neutral. DCE Jan24 contract rebounded slightly during the entire trading day. The major contract expected to roll to May24 in the next few trading days. From hourly chart, MACD narrowed in bearish territory. Hourly slow stochastic KD rebounded after a gold cross created last night. A rebound required a breakthrough on 964.5. Otherwise iron …

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Daily Virtual Steel Mill Report 29/11/23

Verdict: • Short-run Neutral to Bearish.   Macro: • Fed Governor Waller seemed to “blown” about potential interest rate cuts, saying that if inflation continues to fall, there may be grounds for a rate cut in a few months, which was irrelevant to economic pressure.   Iron Ore Key Indicators: • Platts62 $129.45, -4.00, MTD …

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