Category archives: Ferrous

Daily Virtual Steel Mill Report 16/11/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro: • U.S. PPI up 0.2% in October from September, est. up 0.4%. October PPI up 8% on the year, est. up 8.3%. Core PPI up 6.7% on the year, est. 7.2%. • U.K. P.M. Rishi Sunak announced to increase the minimum wage from GBP9.5 …

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A Room with a Technical View 15/11/22

Oil Jan – 23 January 23 Futures – Technically bullish on the last report, the downside move below USD 94.53 meant the technical had a neutral bias, resulting in the USD 92.33 fractal support being tested and broken. The technical is now bearish, with the futures trading to new lows on the open on the …

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Iron Ore DCE January Daily Technical Review 15/11/22

Verdict – Short-term neutral. DCE iron ore January contract slight rebounded but as expected failed to create effective breakthrough. The open interest continuous to climb with narrowed trading volume. Hourly CCI corrected in neutral area. Hourly MACD fell under 0 axis. Hourly candles were indicating a lower top. Technical signals were indicating and exhaustion in …

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