Category archives: Ferrous

Daily Virtual Steel Mill Report 02/06/23

Market Verdict on Iron Ore： • Neutral to bullish.   Macro： • MySteel estimated 45 Chinese iron ore ports total inventories at 127.52 million tons, down 412,900 tons. Daily evacuation at 2.9099 million tons, down 7,200 tons on the week. • Eurozone May inflation rate decreased from 7% to 6.1%, lower than expected 6.3%. The …

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Iron Ore DCE September23 Daily Technical Review 31/05/23

Verdict- Neutral to bullish. DCE Sep23 contract rebounded as expected yesterday. Hourly MACD created gold cross. Hourly slow stochastic KD created gold cross above oversold area. Hourly CCI rebound fast and approached mid-area. Short-run technical signals were indicating a sustainability on the current trend. First support 700.0. First resistance 733.0.  

Daily Virtual Steel Mill Report 31/05/22

Market Verdict on Iron Ore： • Neutral.   Macro： • China official manufacturing PMI 48.8, est. 49.5, last 49.2. • Fedwatch tools indicated that the probability of 25bps interest hike in June reached 63%.   Iron Ore Key Indicators: • Platts62 $102.65, -1.80, MTD $105.16. The mid-grade interests dominate seaborne market yesterday. BHP sold fixed …

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