Category archives: News

Daily Virtual Steel Mill Report 29/08/24

Verdict: • Short-run Neutral to Bullish.   Macro: • US dollar appreciated because of technical buying. Previously, US dollar index once reached year-low. The traders were waiting for new changes on the interest cut stories.   Iron Ore Key Indicators: • Platts62 $100.45, -0.65, MTD $98.49. The seaborne iron ore trades were increased significantly yesterday. …

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Iron Ore DCE Jan27 Daily Technical Review 28/08/24

Verdict- Neutral to Bullish. DCE iron ore corrected slightly during the trading day. Hourly MACD created dead cross. Hourly CCI entered neutral area from bullish territory. Hourly slow stochastic KD started to correct after a dead cross created in bullish territory. Short-run technical signals were indicating an exhaustion on previous rebound. However we maintain bullish …

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Daily Virtual Steel Mill Report 28/08/24

Verdict: • Short-run Neutral to Bullish.   Macro: • China January to July industrial profit above designated scale reached 4.099 trillion yuan, up 3.6% on the year. Steel industry loss at 2.76 billion yuan. • Brazil miner Samarco estimated to increase iron ore capacity by 60% by the end of 2024, among which pellet capacity …

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