Iron Ore DCE May23 Daily Technical Review 09/02/22

Verdict – Short-term neutral. DCE iron ore May23 contract rebounded for the second trading day and brought the price trend from bearish to neutral. Hourly MACD widened in bullish territory. Hourly slow stochastic KD approached overbought area. Hourly CCI entered bullish territory. The technical signals were indicating a potential to test high in next few …

Daily Virtual Steel Mill Report 09/02/22

Market Verdict on Iron Ore: • Neutral.   Macro: • EIA predicted the WTI price reached $83.63/barrel in 2023, $77.84/barrel in 2024.   Iron Ore Key Indicators: • Platts62 $122.90, +1.20, MTD $124.46. The BHP operation stoppage for 24 hours had limited impact on the production and shipment of iron ore. BHP sold JMBF at …