Category archives: Ferrous

Daily Virtual Steel Mill Report 14/06/22

Market Verdict on Iron Ore： • Bearish.   Macro • U.S. S&P500 corrected by 4%, confirming an entrance into bear market analysed by Wallstreet analysts. However the Executive Director of Morgan Stanley James P Gorman believed that the probability of a recession in the US economy is 50%, but any downturn is unlikely to be …

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Iron Ore Drops On China Covid Worries 14/06/22

Iron Ore Slides Ahead of Key China Data as Outbreaks Continue   Iron ore in Singapore slipped lower ahead of Wednesday’s economic data from China, as outbreaks in some of the nation’s key cities remain a drag on demand. The steelmaking ingredient is heading for a fourth straight decline, reversing gains made earlier this month …

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A Room with a Technical View 13/06/22

Capesize June futures – Technically bullish last week but in a corrective phase; having traded to a low of USD 34,625 the futures have traded above the USD 39,250 high, to USD 43,500. Elliott wave analysis would suggest we are on a wave 5 of the cycle that started on 29/04/22 with a potential upside …

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