Category archives: Ferrous

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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Iron Ore DCE Jan25 Daily Technical Review 26/08/24

Verdict- Neutral to Bullish. DCE iron ore saw rebound with increasing volume. The price level approached 750, however iron ore potentially breakthrough this level and challenge 788.5 in mid-run. Hourly MACD reached bullish territory. Hourly slow stochastic KD rebounded after created gold cross above oversold area. Iron ore potentially test high in next session. First …

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Daily Virtual Steel Mill Report 26/08/24

Verdict: • Short-run Neutral to Bullish.   Macro: • US Federal chairman Jerome Powell released the strongest ease signal on interest cut during the Jackson Hole’s bankers week, which exceeded market expectation previously. • China Ministry Department of Industrial and Information department announced capacity change, which will prevent illegal market capacity increase. Market read as …

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