Category archives: Ferrous

Iron Ore DCE Sep24 Daily Technical Review 20/06/24

Verdict- Neutral. DCE Sep24 consolidated in narrow range as expected in previous days. Hourly MACD widened in bearish territory. Hourly CCI and KD were in neutral area. If iron maintain trading in 20 yuan/ton range, the price will be hard to see directional movement. A breakdown on 814.0 or a breakthrough on 840.0 potentially drive …

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Daily Virtual Steel Mill Report 20/06/24

Verdict: • Short-run Neutral.   Macro: • During the Finance Forum in Lujiazui, Shanghai, PBOC’s Pan signals supportive monetary in China, however with limits. The chairman of Regulatory body CSRC mentioned strategic role of high quality development among listed companies, improving companies value and protecting investors rights.   Iron Ore Key Indicators: • Platts62 $107.35, …

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Daily Virtual Steel Mill Report 18/06/24

Verdict: • Short-run Neutral.   Macro: • India steel maker Vedanta Sesa Goa subsidiary Wester Cluster Ltd announced to invest $2 billion dollars in Lybia to support its iron ore production.   Iron Ore Key Indicators: • There was no Platts index due to Singapore holiday. Thus, the trade was quiet on ports and seaborne. …

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