Category archives: Ferrous

Daily Virtual Steel Mill Report 02/06/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro • China Automobile Association suggested that the 50% cut on vehicle purchase tax would increase 2 million sales units, equal to 300 – 350 billion yuan. • EU sets harshest Russian sanctions targeting oil and insurance.   Iron Ore Key Indicators: • Platts62 $136.55, …

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Iron Ore DCE September Daily Technical Review 02/06/22

Verdict – Short-term neutral to bullish.   DCE iron ore September contract rebounded significantly with short position cut loss before the long weekends. Hourly MACD widened above 0 axis. Hourly slow stochastic KD widened above overbought area. Hourly CCI maintained in bullish territory. Be aware of the gains taking approaching listed high at 944.5 in …

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Iron Ore DCE September Daily Technical Review 01/06/22

Verdict – Short-term neutral.   DCE iron ore September refreshed new high, however the last two-day rebound was along with significant smaller rebound. Thus, the extension of bullish run needs to see massive changing hands in the next few sessions. Hourly techncial signals were starting to show bearish divergence with price movement. Hourly MACD narrowed …

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Daily Virtual Steel Mill Report 01/06/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro • Eurozone May adjusted CPI up 8.1% y-o-y, refreshed record high. Est. 7.8%, last 7.5%. • U.S. president Joe Biden held a rare meeting with Federal Reserve Chair Jerome Powell to tackle decades-high inflation ahead of the November midterm and simultaneously maintain the independence …

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