Category archives: Ferrous

Iron Ore DCE January Daily Technical Review 25/10/22

Verdict – Short-term neutral. DCE iron ore January contract corrected, however recovered some losses during the day. Short-run supported by 662.5- 664.0 area, initiated two rounds of rebound during the past five trading days. Hourly slow stochastic KD potentially create gold cross near oversold area. Hourly CCI potentially breakthrough from bearish territory to neutral area. …

Continue reading “Iron Ore DCE January Daily Technical Review 25/10/22”

Daily Virtual Steel Mill Report 25/10/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro: • U.S. October Manufacturing PMI 49.9, refreshed new low since June 2020. • Chinese January to September crude steel production 780.83 million tons, down 4.3% on the year. Total coal production 3320 million tons, up 11.2% on the year. Total crude oil production 153.75 …

Continue reading “Daily Virtual Steel Mill Report 25/10/22”

Iron Ore DCE January Daily Technical Review 24/10/22

Verdict – Short-term neutral. DCE iron ore January contract corrected after a systematic correction over entire secondary market in Asian morning. However expected to recover some gains and continue to test high in the following sessions. A breakthrough on next high at 694.0 would create signals of a big rebound. Otherwise iron ore maintain consolidate …

Continue reading “Iron Ore DCE January Daily Technical Review 24/10/22”

Daily Virtual Steel Mill Report 24/10/22

Market Verdict on Iron Ore： • Neutral.   Macro： • U.S. Federal was considering lower the December interest hike to 50 bps from 75 bps, however the final interest rate would increase in 2023. At least 6 ECB officials support a 75 bps interest hike by the end of 2022. • China first three quarter …

Continue reading “Daily Virtual Steel Mill Report 24/10/22”