Category archives: Ferrous

Iron Ore DCE Sep24 Daily Technical Review 03/04/24

Verdict- Neutral. DCE Sep24 contract corrected significantly, indicating a taking gains sentiment before China Qingming holiday. Hourly MACD created dead cross. Hourly slow stochastic KD created dead cross in overbought area. Hourly CCI entered bearish territory. A support near 728.0 would potentially bring market back to rebound. The intra-day high was resisted around 780.0. Thus, …

Continue reading “Iron Ore DCE Sep24 Daily Technical Review 03/04/24”

Daily Virtual Steel Mill Report 03/04/24

Verdict: • Short-run Neutral.   Macro: • US Federal Governor Loretta Mester indicated that it is less likely to see interest cut in or before May, however possible in June. Mester expected three interest cut in 2024.   Iron Ore Key Indicators: • Platts62 $102.25, -0.25, MTD $102.38. The market saw active trade before China …

Continue reading “Daily Virtual Steel Mill Report 03/04/24”

Iron Ore DCE Sep24 Daily Technical Review 02/04/24

Verdict- Neutral to Bullish. DCE Sep24 contract consolidated during the trading day, maintain a slight bullish outlook in short-run. Hourly stochastic KD entered overbought area. Hourly MACD widened in bullish territory. The intraday high reached 775.5. The next breakthrough on 780.0 potentially lead to an acceleration of rebound. First support 728.0. First resistance 780.0.   …

Continue reading “Iron Ore DCE Sep24 Daily Technical Review 02/04/24”