Category archives: Ferrous

Iron Ore DCE Sep24 Daily Technical Review 13/06/24

Verdict- Neutral to Bullish. DCE Sep24 rebounded today, however saw pressure under R1 at 824.5. Hourly MACD widened above bullish territory. Hourly slow stochastic KD rebounded fast. A breakthrough on 824.5 potentially reverse iron ore market to bull again. Iron ore in short-run potentially test high in next session. First support 780.0. First resistance 824.5. …

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Daily Virtual Steel Mill Report 13/06/24

Verdict: • Short-run Neutral to Bullish.   Macro: • US Federal maintained unchanged for interest rate at 5.25-5.5%, fell into market expectations. However the recent matrix indicated that the probability of interest cut dropped from 3 times to 1 time in 2024. • On June 12th, the European Commission issued a statement proposing to impose …

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Daily Virtual Steel Mill Report 12/06/24

Verdict: • Short-run Neutral.   Macro: • World Bank increased global GDP growth target in 2024 from 2.4% to 2.6%. China growth rate was increased from 4.5% to 4.8%. US growth target was increased from 1.6% to 2.5%.   Iron Ore Key Indicators: • Platts62 $103.80, -4.70, MTD $107.64. The general weak performance of metals …

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