Category archives: Ferrous

Iron Ore DCE September23 Daily Technical Review 06/07/23

Verdict- Neutral. DCE Sep23 contract rebounded 1.5 yuan higher than last closing. The DCE market was in a neutral sentiment. Hourly MACD was in bullish territory, however close to the midline. Hourly CCI fell from bullish territory. Short-run technical was indicating that the market was waiting for direction. First support 822.0. First resistance 841.0.  

Daily Virtual Steel Mill Report 06/07/23

Market Verdict on Iron Ore： • Neutral.   Macro： • U.S. Federal Reserve indicated divisions over interest rate decision in June meeting, however all committing to hike again later this month to fight against inflation. • Eurozone PPI down 1.9% on the month est. down 1.8%, last down 3.2%. PPI down 1.% on the year, …

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Daily Virtual Steel Mill Report 05/07/23

Market Verdict on Iron Ore： • Neutral to Bearish.   Macro： • The Manufacturing PMI in June reached 53.9, down 3.2 from last month. The index maintained above boom and bust line for consecutive six months.   Iron Ore Key Indicators: • Platts62 $110.50, -0.05, MTD $110.53. The BRBF source became tight in the next …

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