Category archives: Ferrous

Iron Ore DCE Sep24 Daily Technical Review 18/07/24

Verdict- Neutral to Bullish. Iron ore was traded in narrow range as expected. The low of day reached 798.0, which was higher than first support at 791.0. Hourly MACD narrowed in bearish territory. Hourly slow stochastic KD created gold cross in oversold area. CCI reversed from three month low to neutral area. Iron ore potentially …

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Daily Virtual Steel Mill Report 18/07/24

Verdict: • Short-run Neutral.   Macro: • Vale announced unchanged on its production target in 2024 from 310 – 320 million tons. The H1 2024 produced 151 million tons, accounted for 47.19-48.7% of total production target. However, the annual production expected to reach the higher boundary of estimation because of seasonal high delivery in H2. …

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Daily Virtual Steel Mill Report 17/07/24

Verdict: • Short-run Neutral.   Macro: • IMF predicted 3.2% and 3.3% growth on global economy in 2024 and 2025 respectively. IMF increased China economy growth from 4.6% to 5%. IMF decreased US economy growth from 2.7% to 2.6%. • Physical gold up 1.92% yesterday, refreshed historical high at $2468.7/oz.   Iron Ore Key Indicators: …

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