Category archives: Ferrous

Daily Virtual Steel Mill Report 18/04/24

Verdict: • Short-run Neutral.   Macro: • ECB governor Joachim Nagel believed that there was increasing probability for a rate cut in June. However the decision needed to confirm the inflation rate is really going down by then.   Iron Ore Key Indicators: • Platts62 $116.60, +6.20, MTD $106.13. The resumption of production in China …

Continue reading “Daily Virtual Steel Mill Report 18/04/24”

Iron Ore DCE Sep24 Daily Technical Review 17/04/24

Verdict- Neutral to Bullish. DCE Sep24 reversed the correction and created periodic high. Hourly MACD created gold cross. Hourly CCI entered bullish territory. Hourly slow stochastic KD was approaching overbought area. Iron ore was in acceleration phase. However be aware of the taking gains by looking at open interest movement. First support 847.0. First resistance …

Continue reading “Iron Ore DCE Sep24 Daily Technical Review 17/04/24”

Daily Virtual Steel Mill Report 17/04/24

Verdict: • Short-run Neutral.   Macro: • Vale’s Q1 iron ore production was 70.837 million tons, a decrease of 20.8% month on month and a year-on-year increase of 6.1%. In the first quarter, the sales of iron ore were 63.83 million tons, a decrease of 29.3% compared to the previous quarter and a year-on-year increase …

Continue reading “Daily Virtual Steel Mill Report 17/04/24”