Category archives: News

Iron Ore DCE January24 Daily Technical Review 21/08/23

Verdict- Neutral. DCE Jan24 contract rebounded slightly as expected. Hourly MACD narrowed in bullish area. Hourly candles indicated that iron ore pulled back to last support area from 770.0 –777.0. The short-run resistance was 789.0, which was the last high created in June 26hth. Short-run technical signals were indicating a consolidation. First support 759.0. First …

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Daily Virtual Steel Mill Report 21/08/23

Verdict: • Short-run Neutral.   Macro: • Beijing planned to allow local governments to sell 1.5 trillion yuan of special bounds to repay debts. Banks cut key lending rates by 15 bps this week.   Iron Ore Key Indicators: • Platts62 $109.35, +0.55, MTD $105.60. The traders were concerning about the fast uptick on low …

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