Category archives: Ferrous

A Room with a Technical View 07/03/22

Capesize March Futures – Technically bearish last week A positive divergence on the 1-hour intraday had warned that we could see a small test to the upside resulting in the futures trading from USD 15,650 to USD 20,000. April futures – The roll in the futures created a bullish Gap of USD 4,000 which took …

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Iron Ore DCE May Daily Technical Review 7/3/22

Verdict – Short-term neutral. DCE iron ore May22 maintained bullish during the day. However worth noticing that DCE aggregated open interest has lost 16.6% from the start of this round of rebound in Feb 28th. Previous cut loss sellers were major contributor of today’s market. Short-run support was close to the upper bound of a …

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Daily Virtual Steel Mill Report 7/3/22

Market Verdict on Iron Ore： • Neutral. Macro • The weekends news about U.S. and European countries potential stop import Russian crude oils lifted NYMEX WTI price by 10% in Asian morning on Monday, WTI futures reached $130.5 as the highest of the day. • China government report mentioned expected to decrease deficit ratio from …

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