Category archives: Ferrous

Iron Ore DCE May23 Daily Technical Review 24/02/22

Verdict – Short-term neutral. DCE iron ore May23 contract tested low however backed by major support above 900.0. Hourly MACD maintained in bearish territory. Houlry CCI returned from bearish territory to neutral area. A breakdown on 900.0 by closing in future trading days would indicate a mid-run reversal. Otherwise iron ore would potentially maintain watch-and-see …

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Daily Virtual Steel Mill Report 24/02/22

Market Verdict on Iron Ore： • Neutral.   Macro： • U.S. jobless claims fell to unexpected 192,000, estimated 200,000. Iron Ore Key Indicators: • Platts62 $130.20, -0.40, MTD $125.99. Fixed price still dominate the market in current two weeks. The import margin vanished again for mid-grade and high grade as the quick push on iron …

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Iron Ore DCE May23 Daily Technical Review 23/02/22

Verdict – Short-term neutral. DCE iron ore May23 contract slight corrected, maintained neutral during past few days as expected. The major trades ranged from 906.0 – 922.0 area. A breakdown on 900.0 would potentially reverse the mid-run bullish trend. Hourly CCI entered bearish territory. Hourly MACD deepened correction in bearish territory. Short-run technical were indicating …

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Daily Virtual Steel Mill Report 23/02/22

Market Verdict on Iron Ore： • Neutral.   Macro: • U.S. FOMC indicated that most of officials had saw the positive effect of slower hike. Thus, most of officials are voting for 25 bps hike. The U.S. Federal believed that the inflation risk was in general controllable.   Iron Ore Key Indicators: • Platts62 $130.60, …

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