Category archives: News

Iron Ore DCE January24 Daily Technical Review 28/09/23

Verdict- Neutral. DCE Jan24 contract rebounded slightly with a narrowed trading volume as the China golden weeks looming. Both resistance and support level moved up a bit to 858.0 and 835.0 respectively. Hourly MACD widened in bullish territory. The mid-run neutral outlook maintaining unchanged. First support 835.0. First resistance 858.0.  

Daily Virtual Steel Mill Report 28/09/23

Verdict: • Short-run Neutral.   Macro: • China NBS: The industrial profit above designated scale in August reversed negative to positive number, up 17.2% on the year. Jan-Aug total down 11.7% on the year. The drop during Jan-Aug was majorly dragged by the ferrous metallurgical industry, which decreased by 57.1% on the year.   Iron …

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Iron Ore DCE January24 Daily Technical Review 27/09/23

Verdict- Neutral. DCE Jan24 contract rebounded slightly during the day as the looming China holiday. The trading volume narrowed for two consecutive trading days. Hourly MACD created gold cross. Hourly slow stochastic KD created a gold cross in oversold area and rebounded fast. Hourly CCI entered bullish territory. The high was rejected by 851.0 -851.5 …

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Daily Virtual Steel Mill Report 27/09/23

Verdict: • Short-run Neutral.   Macro: • The US New Home Sales Administration annualized 675,000 new houses sold, with an expected 700,000 houses, last 739,000 houses, the data had dropped to the lowest level since May.   Iron Ore Key Indicators: • Platts62 $117.40, -1.40, MTD $121.06. The negative steel margin lowered the demand for …

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