Daily Virtual Steel Mill Report 30/09/22

Market Verdict on Iron Ore: • Neutral to bullish.   Macro: • Before Chinese Golden Weeks, many cities start signing major projects, with a total investment of 3163.9 billion yuan. • The number of new claims for unemployment benefits for the first time last week was 193,000, est. 215,000, last 213,000. The U.S. economy growth …

Iron Ore DCE January Daily Technical Review 29/9/22

Verdict – Short-term neutral.   DCE iron ore January contract tested high an retreated in the afternoon, as expected neutral outlook in short-run. However intra-day volume grew, and the trade range was wider compared with last trading day. Hourly MACD narrower in bullish area. Technical signals were indicating a neutral sentiment in short-run.   The …