Category archives: Ferrous

Daily Virtual Steel Mill Report 28/10/22

Market Verdict on Iron Ore： • Neutral.   Macro: • Chinese NBS: For the first nine months of the year, Chinese industrial enterprises value-added above designated scale 6.24 trillion yuan, down 2.3% y-o-y. • U.S. Q3 GDP up 2.6% on the year, higher than expected 2.4%, created the first positive growth quarter after two consecutive …

Continue reading “Daily Virtual Steel Mill Report 28/10/22”

Iron Ore DCE January Daily Technical Review 27/10/22

Verdict – Short-term neutral to bearish. DCE iron ore January contract broke the last defense at 652.0 as long-run support. Iron ore fell into bearish territory. A return to neutral needs to breakthrough 667.0 as intra-day high. Hourly MACD widened below 0 axis. Hourly slow stochastic KD entered bearish territory. CCI rejected by the lower …

Continue reading “Iron Ore DCE January Daily Technical Review 27/10/22”

Daily Virtual Steel Mill Report 27/10/22

Market Verdict on Iron Ore： • Neutral.   Macro: • U.S. dollar index depreciated fast from 113.93 to 109.53 since Oct 21st. Non-U.S. currency appreciated significantly during this week. Chinese yuan appreciated over 1200 bps yesterday. • World Bank: Due to the EU embargo, insurance and shipping restrictions, Russia’s oil exports may decrease by up …

Continue reading “Daily Virtual Steel Mill Report 27/10/22”

Iron Ore DCE January Daily Technical Review 26/10/22

Verdict – Short-term neutral. DCE iron ore January contract broke the long-run support level at 662.5, however recovered to this level before closing. Iron ore potentially maintain range bounds near this level. Hourly MACD volatility decreased significantly. Hourly CCI corrected to bearish territory. Technical signals were indicating a potential narrowing in range bounds in the …

Continue reading “Iron Ore DCE January Daily Technical Review 26/10/22”