Category archives: Ferrous

Daily Virtual Steel Mill Report 07/06/24

Verdict: • Short-run Neutral to Bullish.   Macro: • European central bank became the second bank in G7 to announce rate cuts following Canada. The EBC cut major interest rate by 25 bps. Thus, global equities and commodities saw a growth yesterday. • The jobless files of US in last week reached 229,000, est. 220,000, …

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Daily Virtual Steel Mill Report 06/06/24

Verdict: • Short-run Neutral.   Macro: • Canada cut interest rate by 25 bps to 4.75%, became the first country to cut interest rate in G7. • EIA report indicated that US crude oil inventories up 1.233 million barrels to 456 million barrels, refreshed new high since March 31st, 2023.   Iron Ore Key Indicators: …

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Iron Ore DCE Sep24 Daily Technical Review 06/06/24

Verdict- Neutral to Bullish. DCE Sep24 reversed during the trading day with decrease on open positions and an increase on volume, indicating previous sellers taking gains. As we expected, the bearish trend called an end technically in short-run. Hourly MACD widened in bullish territory. Hourly slow stochastic KD hiked after a gold cross near oversold …

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