Category archives: Ferrous

Iron Ore DCE January Daily Technical Review 12/10/22

Verdict – Short-term neutral. DCE iron ore January contract corrected during the day, however recovered some losses during the last trading hour. The iron ore potentially test next important support at 700.0. Hourly slow stochastic KD created gold cross. Hourly CCI left bearish territory to neutral territory. Short-run technicals were indicating an exhaustion on the …

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Daily Virtual Steel Mill Report 12/10/22

Market Verdict on Iron Ore： • Neutral.   Macro • China September social financing increased 3.53 trillion yuan, est. 2.75 trillion yuan, last 2.43 trillion yuan. • IMF estimated global economy growth at 3.2%, unchanged from previous estimation at July. However IMF lowered the global growth rate to 2.7% from 2.9% in 2023.   Iron …

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Iron Ore DCE January Daily Technical Review 11/10/22

Verdict – Short-term neutral. DCE iron ore January contract corrected massively and broke important support area from 728.0 -735.0 with increasing volume, which was bigger than last two trading days. The short-run intra-day support fell on 716.5- 717.0, however mid-run support on 700.0. Iron ore currently terminate the mid-run rebound, however maintain range bound from …

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