Category archives: Ferrous

Daily Virtual Steel Mill Report 17/02/22

Market Verdict on Iron Ore： • Neutral.   Macro： • U.S. last week jobless claims 194,000, est. 200,000, last 195,000. • China MIIT urged to increase the merging and restructure of domestic steel industries, improving the quality of steels.   Iron Ore Key Indicators: • Platts62 $124.75, +1.15, MTD $124.36. Fixed trades in mid-stream largely …

Continue reading “Daily Virtual Steel Mill Report 17/02/22”

Iron Ore DCE May23 Daily Technical Review 16/02/22

Verdict – Short-term neutral. DCE iron ore May23 contract created three consecutive growth during the past trading days. Hourly MACD widened in bullish territory. Hourly CCI entered bullish territory. Iron ore was testing the strength of the pressure on 883.0- 889.0 level, an effective breakthrough would suggest an entrance to bullish again. The first support …

Continue reading “Iron Ore DCE May23 Daily Technical Review 16/02/22”

Daily Virtual Steel Mill Report 16/02/22

Market Verdict on Iron Ore： • Neutral.     Macro： • IEA predicted that the crude oil demand expected to increase 200 million barrels/day, reaching 101.9 million barrels/day. However the restriction of Russia supply and economy recovery globally potentially cause a shortage.   Iron Ore Key Indicators: • Platts62 $123.60, -0.15, MTD $124.32. The import …

Continue reading “Daily Virtual Steel Mill Report 16/02/22”