Category archives: Ferrous

Iron Ore DCE January24 Daily Technical Review 13/09/23

Verdict- Neutral. DCE Jan24 contract maintain rangebound and returned to the area of last closing. Hourly slow stochastic created dead cross in overbought area and flattened. Hourly CCI approached bullish territory. Hourly MACD narrowed in bullish area. Short-run technical was still indicating a neutral sentiment. First support 840.0. First resistance 867.5.  

Daily Virtual Steel Mill Report 13/09/23

Verdict: • Short-run Neutral.   Macro: • BOE indicated that the inflation target of 2% was approachable in two years. • OPEC monthly report indicated that the crude oil shortage reached 3 million barrels/day due to the extension production cut by Saudi Arab. Iron Ore Key Indicators: • Platts62 $122.60, +1.95, MTD $119.21. Although the …

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