Category archives: Ferrous

Iron Ore DCE May24 Daily Technical Review 22/03/24

Verdict- Neutral. DCE May24 contract during last night however recovered most of loss during day session. Iron maintain neutral verdict. Hourly MACD narrowed in bullish territory. Hourly slow stochastic KD created lower dead crosses during past ten trading hours. Hourly CCI was in neutral area. Be aware of an exhaustion in high area. However there …

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Daily Virtual Steel Mill Report 22/03/24

Verdict: • Short-run Neutral.   Macro: • US jobless claims last week at 210,000, estimated 213,000, last 209,000.   Iron Ore Key Indicators: • Platts62 $110.65, +4.15, MTD $110.96. The procurement of iron ore was majorly based on real-demand. The market participants agreed a slow demand for iron ore compared to past five years during …

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