Category archives: Ferrous

Iron Ore DCE Sep24 Daily Technical Review 22/07/24

Verdict- Neutral. Iron ore closed corrected slightly from last Friday. Hourly MACD narrowed in bullish territory, however in general flat. Hourly CCI approached the boundary between neutral and bearish area. Iron ore strong support at 791.0 – 793.5 area. The major resistance area was 808 – 809.5 area. Iron ore potentially maintain neutral unless breakthrough …

Continue reading “Iron Ore DCE Sep24 Daily Technical Review 22/07/24”

Daily Virtual Steel Mill Report 22/07/24

Verdict: • Short-run Neutral.   Macro: • China 1-Year LPR down 10 bps to 3.35%, 5-year LPR down 10 bps at 3.85%. • WTI crude oil futures settled at $82.63/barrel, refreshed the lowest since mid-June.   Iron Ore Key Indicators: • Platts62 $104.35, -0.95, MTD $108.61. China 45 ports iron ore inventories at 151.31 million …

Continue reading “Daily Virtual Steel Mill Report 22/07/24”

Daily Virtual Steel Mill Report 19/07/24

Verdict: • Short-run Neutral.   Macro: • US jobless claims during past week reached 243,000, est. 230,000, last 223,000.   Iron Ore Key Indicators: • Platts62 $105.30, +0.35, MTD $108.91. China 45 ports iron ore inventories at 151.31 million tons, up 1.42 million tons on the week, up 25.90 million tons on the year. Daily …

Continue reading “Daily Virtual Steel Mill Report 19/07/24”