Category archives: Ferrous

Iron Ore DCE January 24 Daily Technical Review 18/09/23

Verdict- Neutral. DCE Jan24 contract saw a low high during the day, and potentially entered a consolidation period. Hourly MACD flattened in bearish area. Hourly CCI fell into neutral area. A rejection on 881.5 for next few sessions would stuck the price level into narrower range. The trading was crowded in the range 870 – …

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Daily Virtual Steel Mill Report 18/09/23

Verdict: • Short-run Neutral.   Macro: • FedWatch indicated that the probability of skipping interest hike in September reached as high as 98%. The 25 bps hike probability for November or December reached 60%.   Iron Ore Key Indicators: • Platts62 $125.60, +1.65, MTD $120.66. The seaborne iron ore market saw improved popularity because of …

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Iron Ore DCE January 24 Daily Technical Review 15/09/23

Verdict- Neutral to Bullish. DCE Jan24 contract broke important resistance at 866.5, which became an important support in short-run. Hourly MACD widened in bullish territory. Hourly CCI approached the boundary of neutral and bullish area. Hourly slow stochastic KD entered overbought area. First support 866.5. First resistance 900.0.  

Daily Virtual Steel Mill Report 15/09/23

Verdict: • Short-run Neutral to Bullish.   Macro: • China announced reserve requirement ratio cut by 0.25% to consolidate the foundation for economy recovery. The reduction is the second RRR cut during 2023, expected to release over 500 billion yuan in medium liquidity.   Iron Ore Key Indicators: • Platts62 $123.95, +1.45, MTD $120.11. The …

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