Category archives: Ferrous

Iron Ore DCE May24 Daily Technical Review 29/02/24

Verdict- Neutral. DCE May24 contract moved in the range box from 876.0- 900.0 as expected from last trading day. The daily technical signals provided support, as gold cross on slow stochastic KD and narrowed MACD in bearish territory. The intraday signals saw a fast ascending CCI to approach bullish territory. On the other side, iron …

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Daily Virtual Steel Mill Report 29/02/24

Verdict: • Short-run Neutral.   Macro: • According to Bloomberg news, BHP Group Ltd., the world’s biggest miner, has embarked on a major restructure of its global business, affecting units from mine-planning to decarbonization and heritage protection.   Iron Ore Key Indicators: • Platts62 $116.90, -1.30, MTD $125.27. The virtual steel margin recovered from 30 …

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