Daily Virtual Steel Mill Report 23/07/24

Verdict: • Short-run Neutral.   Macro: • Anglo American agreed to sell iron ore, copper and gold royalties to Taurus Funds Management for up to $195 million in cash.   Iron Ore Key Indicators: • Platts62 $103.20, -1.15, MTD $108.27. The seaborne trade was extremely quiet in July as physical traders became cautious during a …

Iron Ore DCE Sep24 Daily Technical Review 22/07/24

Verdict- Neutral. Iron ore closed corrected slightly from last Friday. Hourly MACD narrowed in bullish territory, however in general flat. Hourly CCI approached the boundary between neutral and bearish area. Iron ore strong support at 791.0 – 793.5 area. The major resistance area was 808 – 809.5 area. Iron ore potentially maintain neutral unless breakthrough …