Category archives: Ferrous

Iron Ore DCE Jan25 Daily Technical Review 23/08/24

Verdict- Neutral. DCE iron ore saw correction during the trading day, the low of the day was above important support by 716.5. Iron ore should maintain neutral above 716.5 and return bearish run if broke down 716.5 by next closing. Hourly MACD created dead cross. Hourly slow stochastic KD reached oversold area. First support 716.5. …

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Daily Virtual Steel Mill Report 23/08/24

Verdict: • Short-run Neutral.   Macro: • Last week, the number of initial jobless claims in the US was 232,000, est. 230,000, last revised from 227,000 to 228,000. • World Steel Association: In July 2024, the crude steel production of 71 countries included in the World Steel Association’s statistics was 152.8 million tons, a year-on-year …

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Daily Virtual Steel Mill Report 22/08/24

Verdict: • Short-run Neutral to Bullish.   Macro: • According to US Federal notes overnight, the Federal expected to cut interest rate once in September, and one more cut in late 2024. The Federal expected an ease monetary condition in 2025.   Iron Ore Key Indicators: • Platts62 $97.90, +2.80, MTD $98.33. As we expected …

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Daily Virtual Steel Mill Report 21/08/24

Verdict: • Short-run Neutral to Bullish.   Macro: • Goldman Sachs indicated that China crude oil demand in 2025 should maintain stable, estimated crude oil price at $68/b.   Iron Ore Key Indicators: • Platts62 $95.10, +0.65, MTD $98.36. The physical iron ore market became active from this week, eyeing significant growth of discount cargoes …

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