Verdict- Neutral. DCE Jan24 contract maintain rangebound during the day as expected. A breakthrough on 867.5 potentially indicates a return to bullish in mid-run. Hourly MACD potentially create a dead cross. Hourly CCI fell from bullish territory to neutral area. First support 840.0. First resistance 867.5.
Category archives: Ferrous
Daily Virtual Steel Mill Report 14/09/23
Verdict: • Short-run Neutral. Macro: • US August CPI up 3.7%, higher than expected 3.6%, last 3.2%. Core CPI up 4.3%, est. 4.3%, last 4.7%. • Europe Union will launch a probe of EV subsidies against China. Iron Ore Key Indicators: • Platts62 $122.60, +1.95, MTD $119.21. The mid-grade saw massive fixed trade …
London Iron Ore Derivatives Report 13/09/23
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European Close 13/09/23
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Singapore Iron Ore Derivatives Report 13/09/23
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Iron Ore Offshore Oct 23 Morning Technical Comment – 240 Min Chart 13/09/23
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Morning Steel and Scrap Report – 13/09/23
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FIS-Ferrous-Weekly-Report-12.9.23
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Iron Ore DCE January24 Daily Technical Review 13/09/23
Verdict- Neutral. DCE Jan24 contract maintain rangebound and returned to the area of last closing. Hourly slow stochastic created dead cross in overbought area and flattened. Hourly CCI approached bullish territory. Hourly MACD narrowed in bullish area. Short-run technical was still indicating a neutral sentiment. First support 840.0. First resistance 867.5.
Daily Virtual Steel Mill Report 13/09/23
Verdict: • Short-run Neutral. Macro: • BOE indicated that the inflation target of 2% was approachable in two years. • OPEC monthly report indicated that the crude oil shortage reached 3 million barrels/day due to the extension production cut by Saudi Arab. Iron Ore Key Indicators: • Platts62 $122.60, +1.95, MTD $119.21. Although the …