Category archives: Ferrous

Daily Virtual Steel Mill Report 15/11/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro： • OPEC decreased the oil market demand for the fifth time in 2022 since April. The OPEC expected the oil demand in 2022 at 2.55 million barrels/day, down 100,000 barrels/day from last report. • China Tianjin published 14 detailed practices to support automobile consumption. …

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Iron Ore DCE January Daily Technical Review 14/11/22

Verdict – Short-term neutral.   DCE iron ore January contract saw periodic top pattern. Iron ore saw a long-run resistance line connecting 755.0, 745.5 and 735.0. Hourly MACD narrowed above 0 axis. Hourly slow stochastic KD created dead cross above overbought area. Iron ore in mid-run still maintained in an ascending tunnel.   The first …

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Daily Virtual Steel Mill Report 14/11/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro： • European Commission sent the Autumn economy outlook 2022, expected the GDP growth in 2022 at 3.3% in EU, GDP growth in 2023 at 0.3%. The report expected the inflation rate in EU countries in 2022 and 2023 at 9.3% and 7% respectively. • …

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