Daily Virtual Steel Mill Report 16/09/22

Market Verdict on Iron Ore: • Neutral to bullish.   Macro • The biggest four National Banks in China decreased saving rate in September 15th. • U.S. Shale oil and gas companies announced European buyers that they can’t provide additional energies in this winter. Once Europe ban on Russia oil taking into effect, oil supply …

Iron Ore DCE January Daily Technical Review 15/09/22

Verdict – Short-term neutral.   DCE iron ore January contracted consolidated as expected yesterday. Iron ore tested high and low with wider range. 15 minutes slow stochastic KD created gold cross above oversold area. 15 minutes level MACD narrowed below 0 axis. 710.5-713.5 provided significant support in short-run from hourly chart.   The first support …