Category archives: Ferrous

Iron Ore DCE Sep24 Daily Technical Review 16/05/24

Verdict- Neutral. DCE Sep24 rebounded during the day as we mentioned signals of rebound. However, from hourly chart iron ore saw three lower highs and lower lows, which created a downward trend. A reversal of this trend need to break through 890.0 – 902.0 area. Hourly MACD widened in bullish area. Hourly slow stochastic KD …

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Daily Virtual Steel Mill Report 16/05/24

Verdict: • Short-run Neutral to Bearish.   Macro: • US April CPI up 3.4%, est. 3.4%, last 3.5%. PCE down 3.6% on the year, created biggest annual basis drop since April 2021. Iron Ore Key Indicators: • Platts62 $114.15, -0.90, MTD $116.78. The pellets were traded higher during this week in Asian market. However the …

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Iron Ore DCE Sep24 Daily Technical Review 15/05/24

Verdict- Neutral. DCE Sep24 corrected during the past trading day, however regained support at 851.0 level. Hourly slows stochastic KD created gold cross above oversold area. Hourly CCI return to neutral area. Hourly MACD widened in bearish territory. Maintain neutral verdict in short-run as long as iron ore standing above 851.0 level. First support 851.0. …

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Daily Virtual Steel Mill Report 15/05/24

Verdict: • Short-run Neutral to Bearish.   Macro: • US April PPI up 0.5% on the month, est. 0.3%, last 0.2%. US April PPI up 2.2% on the year, est. 2.2%, last 2.1%. • US president Joe Biden was raising levies on semi-conductors, batteries, solar cells and some critical minerals, in addition to last reported …

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