Category archives: News

Iron Ore DCE Sep24 Daily Technical Review 04/06/24

Verdict- Neutral to Bearish. DCE Sep24 corrected as expected, new sellers entered market and led further correction. Hourly MACD narrowed in bearish territory. Hourly slow stochastic KD entered oversold area. The high of the day was rejected 50 cents below our first resistance at 850.0. Iron ore potentially test low in next few sessions and …

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Daily Virtual Steel Mill Report 04/06/24

Verdict: • Short-run Neutral.   Macro: • Eurozone Manufacturing May PMI at 47.3, est. 47.4, last 47.4.   Iron Ore Key Indicators: • Platts62 $109.65, -5.60, MTD $109.65. During the past week, Australia and Brazil total delivery reached 26.29 million tons, down 1.21 million tons on the week. The total arrival of Australia and Brazil …

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Daily Virtual Steel Mill Report 03/06/24

Verdict: • Short-run Neutral.   Macro: • US PCE April price index up 0.2%, refreshed new low since December 2023, est. 0.3%, last 0.3%. • According to Euro Statistics, EU inflation in May reached 2.6%, 0.2% higher than April.   Iron Ore Key Indicators: • Platts62 $115.25, +0.10, MTD $117.52. There were two SSF sold …

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