Daily Virtual Steel Mill Report 17/05/22

Market Verdict on Iron Ore: • Neutral to Bullish.   Macro: • The Chinese NBS statistic indicated that property investment decreased by 6.2% from January to April, which was 5.8% from January to March. The decrease was slight faster than market expectation. • Fu Linghui, spokesperson for the National Bureau of Statistics of China, stated …

Iron Ore DCE September23 Daily Technical Review 16/05/22

Verdict- Neutral to bullish. DCE Sep23 contract tested high, however rejected around major resistance at 733.5. An effective rebound needs to breakthrough 733.0- 733.5 area, otherwise iron ore would potentially stay in the range box from 699.5 – 733.5. Hourly CCI retreated from bullish territory to neutral territory. Hourly slow stochastic KD created dead cross …