Category archives: News

Iron Ore DCE September23 Daily Technical Review 24/07/23

Verdict- Neutral. DCE Sep23 contract corrected, however in general maintain in rangebound trading. Hourly MACD flattened in oversold area. Hourly CCI approached bearish boundary. The higher lows from hourly charts were indicating a strong support. However the resistance area from 851.5- 854.5 last for two weeks. First support 823.5. First resistance 854.5.  

Daily Virtual Steel Mill Report 24/07/23

Market Verdict on Iron Ore： • Neutral.   Macro： • China announced support for property construction by saying the government will boost the renovation of urban villages. It will also seek more private capital in the projects to expand domestic demand and push forward development of cities.   Iron Ore Key Indicators: • Platts62 $115.35, …

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Iron Ore DCE September23 Daily Technical Review 21/07/23

Verdict- Neutral. DCE Sep23 contract tested high and corrected approaching the level of last closing. Iron ore was rejected by 851.5-854.5 area for four trading days out of the last six trading days. A breakthrough of this area potentially accelerates the rebound, with previous buyers cut loss. However, the market saw exhaustion on the current …

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Daily Virtual Steel Mill Report 21/07/23

Market Verdict on Iron Ore： • Neutral.   Macro： • Bloomberg: major economists believed that the next interest rate increase would ended 16 months interest hike. • Platts62 $116.25, +2.25, MTD $111.87. Seaborne market became quiet during the past two days. There was secondary trade on PBF at $1.1 based on August Index. Be aware …

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