Category archives: Ferrous

Daily Virtual Steel Mill Report 23/02/24

Verdict: • Short-run Neutral to Bearish.   Macro: • US jobless claims at 201,000, est. 216,000, last 212,000. • US Federal Reserve Patrick Harker stated that there should be no urgency to cut interest rates. The Fed’s focus is on the job market and economic data for the coming months, which will determine when the …

Continue reading “Daily Virtual Steel Mill Report 23/02/24”

Iron Ore DCE May24 Daily Technical Review 22/02/24

Verdict- Neutral to Bearish. DCE May24 contract closed 50 cents higher than yesterday. Hourly MACD narrowed in bearish territory. Hourly slow stochastic KD left oversold area to neutral area. Iron ore saw a decrease on trading volume and a doji on daily candle, indicating a potential exhaustion on previous trend. However iron ore was still …

Continue reading “Iron Ore DCE May24 Daily Technical Review 22/02/24”

Daily Virtual Steel Mill Report 22/02/24

Verdict: • Short-run Neutral to Bearish.   Macro: • According to data from the China Association of Automobile Manufacturers, in January, the production and sales of commercial vehicles reached 327,000 and 324,000 respectively, a decrease of 10.7% and 11.1% month on month, and a year-on-year increase of 66.2% and 79.6%, respectively.   Iron Ore Key …

Continue reading “Daily Virtual Steel Mill Report 22/02/24”