Iron Ore DCE January Daily Technical Review 22/08/22

Verdict – Short-term neutral.   DCE iron ore January rebounded, however resisted by important neckline area at 700.0. Hourly MACD flattened above 0 axis. Hourly CCI decreased to bearish territory. Technical signals were indicating the price movement entered a consolidation period. However a breakthrough on 700.0 level would lead iron ore back to strong rebound …

Daily Virtual Steel Mill Report 22/08/22

Market Verdict on Iron Ore: • Neutral.   Macro • Chinese Loan Prime Rate at 1-year length cut 5 bps to 3.65%, 5-year length at 4.3%, cut 15 bps. • Chinese State Council decided to extend the policy of exempting new energy vehicles from purchase tax to the end of next year, and it is …