Category archives: News

Iron Ore DCE January24 Daily Technical Review 23/08/23

Verdict- Neutral. DCE Jan24 contract created five-month high in early morning however corrected half of gains in the rest of day. The resistance of 836.5, listed high, was effective in short-run. Hourly MACD widened in bullish area. Hourly CCI corrected from bullish area to neutral area. Hourly slow stochastic KD created dead cross in overbought …

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Daily Virtual Steel Mill Report 23/08/23

Verdict: • Short-run Neutral.   Macro: • A package of preferential tax policies to support healthy development of capital market is released by China, aiming to reduce tax burdens over enterprises and individuals.   Iron Ore Key Indicators: • Platts62 $113.30, +2.95, MTD $106.43. The high production of steels, low port inventories and deliveries are …

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Daily Virtual Steel Mill Report 22/08/23

Verdict: • Short-run Neutral.   Macro: • The unchanged 5-year LPR versus 10 bps decrease on 10-year LPR indicated a limited liquidity of China commercial banks. However commercial banks need to maintain the resilience of liquidity supply to real entities. The market expect more rate cuts in the following months in H2.   Iron Ore …

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