Category archives: News

Daily Virtual Steel Mill Report 21/08/24

Verdict: • Short-run Neutral to Bullish.   Macro: • Goldman Sachs indicated that China crude oil demand in 2025 should maintain stable, estimated crude oil price at $68/b.   Iron Ore Key Indicators: • Platts62 $95.10, +0.65, MTD $98.36. The physical iron ore market became active from this week, eyeing significant growth of discount cargoes …

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Iron Ore DCE Jan25 Daily Technical Review 19/08/24

Verdict- Neutral to Bullish. DCE iron ore rebounded during the day. If a breakthrough on 725.5 level, iron ore will potentially see a fast rebound. Otherwise iron ore largely maintain 688.5- 725.5 area. Hourly MACD widened in bullish area. Hourly CCI approached bullish area. Both open interest and volume decreased. However the technical signals indicated …

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Daily Virtual Steel Mill Report 19/08/24

Verdict: • Short-run Neutral.   Macro: • China Ministry of Commerce and seven other departments increased subsidy standards for scrapped automobiles, and raised the subsidy standards for purchasing new energy passenger vehicles and fuel passenger vehicles to 20,000 yuan and 15,000 yuan from 10,000 yuan and 7,000 yuan respectively. • Mining group BHP Billiton announced …

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