Verdict: • Short-run Neutral. Macro: • World Steel Association(WSA) published steel consumption report in 2023-2024, indicating the demand for 2023 estimated to increased by 1.8% at 1.8145 billion tons. The growth rate for 2024 estimated to reach 1.9%. • China NBS: industrial utilisation rate at 75.6% in Q3, up 1.1% from Q2. Iron …
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FIS Fertilizer Market Report 17/10/23
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European Close 17/10/23
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Panamax Technical Report 17/10/23
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Supramax Nov 23 Morning Technical Comment – 240 Min 17/10/23
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Panamax Nov 23 Morning Technical Comment – 240 Min 17/10/23
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Iron Ore DCE January24 Daily Technical Review 17/10/23
Verdict- Neutral to Bullish. DCE Jan24 contract rebounded as expected. Hourly slow stochastic tested high in overbought area. Hourly MACD widened in bullish territory. Be aware of the range between 873.5 -881.5, which used to be a reversal area for the market in late September. First support 857.5. First resistance 881.5.
Capesize Nov 23 Morning Technical Comment – 240 Min 17/10/23
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Iron Ore Offshore Nov 23 Morning Technical Comment – 240 Min Chart 17/10/23
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Daily Virtual Steel Mill Report 17/10/23
Verdict: • Short-run Neutral. Macro: • Russia increased crude oil export tax to $26.2/mt effective from November 1st. • China listed companies started to unveil buyback plans. The companies were state-owned giants including Sinopec, Baoshan Iron and Steel and COSCO. Market participants expected more buyback plans emerged in the rest of October. Iron …