Category archives: Ferrous

Daily Virtual Steel Mill Report 21/11/22

Market Verdict on Iron Ore： • Neutral.   Macro: • Multiple Chinese departments indicated that to support housing development and resolve financing and restructures. • U.S. houses sales decreased for nine month consecutively, however house price up 128 months consecutively. The 30-year mortgage rate reached 20-year-high.   Iron Ore Key Indicators: • Platts62 $96.25, -2.85, …

Continue reading “Daily Virtual Steel Mill Report 21/11/22”

A Room with a Technical View 21/11/22

Capesize Dec Futures – The trend remains bearish, having traded down to the 100% projection level at USD 8,500 (low USD 8,525). We remain below all key moving averages supported by the RSI below 50; however, the RSI is now in divergence with price, warning that we have the potential to see a momentum slow …

Continue reading “A Room with a Technical View 21/11/22”