Category archives: Ferrous

Daily Virtual Steel Mill Report 18/05/22

Market Verdict on Iron Ore： • Neutral.   Macro • U.S. Federal chairman Powell indicated that the FOMC supported the 50 basis points interest increase in the next two meetings. Market was pricing in the expectation.   Iron Ore Key Indicators: • Platts62 $130.15, +2.80, MTD $133.97. Seaborne PBF obtained growing interests, in particular after …

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Daily DCE Review 17/05/22

Iron ore futures moved upward on the day session, despite an industry event held in Singapore that drew most of the major industry players. The futures of Dalian Commodity Exchange (DCE) then hiked slightly by 0.91% day-on-day or up RMB 7.50 to RMB 829/mt, during the day trading session on Monday. The rebar futures also …

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Iron Ore DCE September Daily Technical Review 17/05/22

Verdict – Short-term neutral.   DCE iron ore September contract broke through the important resistance at 839.0 and refreshed seven-day high, however corrected back with lower aggregated volume. Hourly MACD potentially create dead cross above 0 axis. Hourly slow stochastic KD created dead cross this morning and deepened correction. Technical signals indicate a potential to …

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