Category archives: Ferrous

Iron Ore DCE January Daily Technical Review 02/09/22

Verdict – Short-term neutral.   DCE iron ore January contract closed with slight higher than last closing with expand trading volume. The market was overwhelmed with bearish sentiment before late afternoon, supported by the taking gains effect from previous sellers. However a recover to consolidation needs to see a breakthrough on 675.0 level.   The …

Continue reading “Iron Ore DCE January Daily Technical Review 02/09/22”

Daily Virtual Steel Mill Report 02/09/22

Market Verdict on Iron Ore： • Neutral.   Macro • Eurozone 19 countries August PMI decreased from 49.8 to 49.6, indicating the high energy cost and consumer price lower the demand. Germany and Italy PMI refreshed 26-months low.   Iron Ore Key Indicators: • Platts62 $95.6, -5.35, AVG $95.6. PBF and NMHG regained popularity, with …

Continue reading “Daily Virtual Steel Mill Report 02/09/22”

Iron Ore DCE January Daily Technical Review 01/09/22

Verdict – Short-term neutral.   DCE iron ore January contract corrected signficantly, however luckily supported by 672.0 level. A breakdown on 672.0 level would indicate an entrance to bearish phase. Otherwise iron ore potentially maintain rangebounds from 672.0 – 700.0. Hourly CCI created the lowest since July 17th. Hourly MACD maintained in bearish territory since …

Continue reading “Iron Ore DCE January Daily Technical Review 01/09/22”

Daily Virtual Steel Mill Report 01/09/22

Market Verdict on Iron Ore： • Neutral.   Macro • Eurozon August CPI up 9.1% on the year, refreshed historical high, est. 9%, last 8.9%. • The number of U.S. ADP in August was 132,000, much less than expected 300,000.   Iron Ore Key Indicators: • Platts62 $100.95, +3.35, AUG AVG $104.76. PBF and NMHG …

Continue reading “Daily Virtual Steel Mill Report 01/09/22”