Verdict- Neutral. DCE Jan24 contract rebounded during the day however rejected by major resistance at 881.5. Further rejections potentially reverse the price trend because this area created two reversals in September and October previously. Hourly CCI was approaching bullish territory. Hourly MACD narrowed in bullish territory. First support 863.0. First resistance 881.5.
Category archives: Ferrous
Daily Virtual Steel Mill Report 26/10/23
Verdict: • Short-run Neutral. Macro: • IMF Chief Kirstalina Georgieva indicated that the global economy growth slowed down to 3%. The growth rate would be dragged down by high interest rates. Iron Ore Key Indicators: • Platts62 $118.55, +3.00, MTD $118.19. PBF saw two trades based on December Index + $4.1 and $4.2 …
London Iron Ore Market Report 25/10/23
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004
Iron Ore Market Daily Report 25/10/23
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004
Steel and Scrap Report 25/10/23
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Iron Ore DCE January24 Daily Technical Review 25/10/23
Verdict- Neutral. DCE Jan24 contract rebounded as expected. However we change the market view from bullish to neutral because the intra-day high was rejected by 878.5- 881.5 area, which used to witness two important market reversals in September and October respectively. Hourly CCI corrected from overbought area to neutral area. Hourly MACD narrowed in bullish …
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Daily Virtual Steel Mill Report 25/10/23
Verdict: • Short-run Neutral to Bullish. Macro: • China approved a plan to raise fiscal deficit ratio from 3% to 3.8%. The plan issued a 1 trillion yuan sovereign debt to support disaster relief and construction. Iron Ore Key Indicators: • Platts62 $118.55, +3.00, MTD $118.19. Ferrous market spiked as the over-expected 1-trillion …
Iron Ore Market Daily Report 24/10/23
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004 7-23.pdf” title=”Europe Africa Bunker Fuel Market Update 06-07-23″]
Ferrous Weekly Report 24/10/23
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Iron Ore DCE January24 Daily Technical Review 24/10/23
Verdict- Neutral to Bullish. DCE Jan24 contract spiked from 1% to 3.78% during the last half hour before closing. The market regained support and turn from bearish to a recovery mode even excluding the last half hour. Hourly slow stochastic KD soared up after created gold cross in oversold area. Hourly MACD created a gold …
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