Category archives: Ferrous

Iron Ore DCE September23 Daily Technical Review 13/06/23

Verdict- Neutral. DCE Sep23 contract rebounded, however resisted by 800.0- 803.0 level. Hourly MACD narrowed in bearish territory. Hourly slow stochastic KD created gold cross and approaching overbought area. Neutral in short-run, waiting for the direction before breaking through the resistance. First support 781.0. First resistance 812.5.  

Daily Virtual Steel Mill Report 13/06/23

Market Verdict on Iron Ore： • Neutral.   Macro： • Following the state-owned banks rates cut, twelve China’s key joint-stock banks cut deposit rates, ranged from 5 -15 bps. • Jonathan Haskel, rate setter of BOE, said further increased in interest rate cannot be ruled out given a high inflation rate.   Iron Ore Key …

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Iron Ore DCE September23 Daily Technical Review 12/06/23

Verdict- Neutral to Bearish. DCE Sep23 contract created the biggest single day correction in June by 1.81%, along with a massive 80,000 lots of decrease on open interests. The trading volume increased for consecutive three days, indicating a confliction a periodic high level. Hourly slow stochastic KD deepened correction after creating dead cross in overbought …

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Daily Virtual Steel Mill Report 12/06/23

Market Verdict on Iron Ore： • Neutral.   Macro： • The global PMI in May was 48.3%, down 0.3% from April, created consecutive decrease for the previous three months. The index was lower than 50% for the past eight months. The index refreshed new low since June, 2020.   Iron Ore Key Indicators: • Platts62 …

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