Daily Virtual Steel Mill Report 04/11/22

Market Verdict on Iron Ore: • Neutral to bullish.   Macro: • BOE increased interest rate by 75 bps to 3%, refreshed the highest interest rate since 2008. • U.S. interest rate traders believed that the Federal would maintain the target interest rate at 5% during most time of 2023 to fight inflation.   Iron …

Iron Ore DCE January Daily Technical Review 03/11/22

Verdict – Short-term neutral to bullish. DCE iron ore January contract rebounded as expected, refreshed higher highs and lows for three consecutive days. Iron ore trade volume decreased for the current two trading days with almost flat interest change, indicating the market potentially maintain slight bullish in the next few sessions. The first support is …