Category archives: Ferrous

Iron Ore DCE Jan25 Daily Technical Review 30/07/24

Verdict- Neutral. Iron ore corrected significantly during the trading day by 3.22%. Iron ore active rolled from Sep24 to Jan25 during this week. New sellers and previous rolling gathered in January contract as increased aggregated open interest, which triggered big drop. Hourly MACD widened in bearish territory. Hourly slow stochastic KD reached oversold area. In …

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Daily Virtual Steel Mill Report 30/07/24

Verdict: • Short-run Neutral.   Macro: • The Bureau of the Ministry of Industry and Trade of Vietnam has issued a notice officially launching anti-dumping investigations on hot rolls originating from China and India. From January to June 2024, the total amount of steel exported from China to Vietnam reached 6.37 million tons, a year-on-year …

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Iron Ore DCE Sep24 Daily Technical Review 30/07/24

Verdict- Neutral. Iron ore closed 1.5 yuan/ton above last Friday. Hourly MACD narrowed above 0 axis. Hourly KD corrected from overbought area to neutral area. Iron ore potentially keep testing the resistance area from 784.0- 791.0 in next few sessions. A breakthrough on this area would indicate a reversal in mid-run. Otherwise iron ore maintain …

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Daily Virtual Steel Mill Report 29/07/24

Verdict: • Short-run Neutral.   Macro: • According to data from the China National Bureau of Statistics, from January to June, industrial enterprises above designated size in China achieved a total profit of 351.103 billion yuan, a year-on-year increase of 3.5%, with a growth rate 0.1% faster than from January to May period. Among them, …

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