Category archives: News

Daily Virtual Steel Mill Report 31/07/23

Market Verdict on Iron Ore： • Neutral.   Macro： • European Central Bank President Christine Lagarde stated that interest rate hikes may be raised or suspended in September. Lagarde said that inflation must return to the target level and interest strategies should became restrictive at a certain level and for a period of time. • …

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Iron Ore DCE September23 Daily Technical Review 28/07/23

Verdict- Neutral to bearish. DCE Sep23 contract corrected significantly, however supported by 824.5, which was similar level to 824.0 created in July 19th. Thus, some market participants recogonise it as a periodic bottom. However, iron ore in long-run reversed. A breakdown on 824.5 would mean an entrance to bear round. First support 824.5. First resistance …

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Daily Virtual Steel Mill Report 28/07/23

Market Verdict on Iron Ore： • Neutral.   Macro： • The strong typhoon Doksuri landed in eastern China, which potentially cause some downstream work sites and steel mills’ operation halt. • China NBS: H1 industrial value added amount 3.38 trillion yuan, down 16.8% on the year, improved by 2% from Jan – May.   Iron …

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Iron Ore DCE September23 Daily Technical Review 26/07/23

Verdict- Neutral. DCE Sep23 contract refreshed new high since March 15th. The contract gave back some gains after creating new high. Hourly MACD maintained in bullish territory. Hourly slow stochastic KD created dead cross in overbought area. Hourly CCI corrected from bullish territory to neutral area. Be aware of DCE rolling resist the growth of …

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Daily Virtual Steel Mill Report 26/07/23

Market Verdict on Iron Ore： • Neutral.   Macro： • IMF increased the global GDP increase from 2.8% in April to 3%.   Iron Ore Key Indicators: • Platts62 $116.75, +2.25, MTD $112.51.The fast narrowed discount in MACF potentially mean JMBF became cheaper with a stable wide discount. There was JMBF traded at $4 discount …

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Daily Virtual Steel Mill Report 24/07/23

Market Verdict on Iron Ore： • Neutral.   Macro： • China vowed at a key economic policy meeting to optimize and adjust policies for the property sector yesterday.   Iron Ore Key Indicators: • Platts62 $114.50, -0.85, MTD $112.25. MACF saw active trades again yesterday, with a fixed trade at $112.1/dmt and a float price …

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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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