Category archives: Ferrous

Daily Virtual Steel Mill Report 24/11/22

Market Verdict on Iron Ore： • Neutral.   Macro: • China State Council proposed to increase financial support for the real economy, appropriately use monetary policy tools such as reserve ratio reduction in due time, and maintain sufficient liquidity. The meeting stressed that it is necessary to promote major projects to speed up capital payment …

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Iron Ore DCE January Daily Technical Review 23/11/22

Verdict – Short-term neutral to bullish. DCE iron ore January contract opened low and closed high, the loss was majorly recovered during afternoon session. The contract resisted by 747.5, a second high periodically. The lower supported by 714.0. Hourly slow stochastic KD created gold cross above oversold area. Short-run technicals indicated a continious rebound potentially. …

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Daily Virtual Steel Mill Report 23/11/22

Market Verdict on Iron Ore： • Neutral.   Macro: • OECD predicted that the global economy growth rate could slow down from 3.1% to 2.2% in 2023. • ECB officer Holzmann supported the interest hike of 75 bps in December.   Iron Ore Key Indicators: • Platts62 $94.20, -2.05, MTD $91.18.The seaborne market saw less …

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