Category archives: News

Daily Virtual Steel Mill Report 20/09/23

Verdict: • Short-run Neutral.   Macro: • The OECD increased economy growth to 3.0% from 2.7% for 2023, and decreased growth rate from 2.9% to 2.7% for 2024. • IMF governor Alfred Kammer indicated that the ECB cannot afford interest cut in 2024.   Iron Ore Key Indicators: • Platts62 $122.75, -1.70, MTD $121.15. JMBF …

Continue reading “Daily Virtual Steel Mill Report 20/09/23”

Iron Ore DCE January 24 Daily Technical Review 19/09/23

Verdict- Neutral to Bearish. DCE Jan24 contract corrected for the second trading day, a breakdown on 859.5- 861.0 level would confirm a mid-run correction trend. Hourly MACD widened in bearish area. Hourly slow stochastic KD created three lower dead crosses and continue to drop. Hourly CCI entered bearish area. First support 859.0. First resistance 881.5. …

Continue reading “Iron Ore DCE January 24 Daily Technical Review 19/09/23”

Daily Virtual Steel Mill Report 19/09/23

Verdict: • Short-run Neutral.   Macro: • US Treasury Secretary Janet Yellen said that it’s premature to judge the impact of UAW strike, and sought for a “win-win” deal. • ECB governors indicated that the Thursday interest hike potentially become the last hike in the year.   Iron Ore Key Indicators: • Platts62 $124.45, -1.15, …

Continue reading “Daily Virtual Steel Mill Report 19/09/23”