Daily Virtual Steel Mill Report 21/2/22

Market Verdict on Iron Ore: • Neutral. Macro • G20 finance ministers and central bank leaders said that the global economy continued to recover, but influenced by COVID-19 and other countries. The recovery process and policies were different among countries. The inflation pressure of some countries increased. The attending countries promised to take all available …

Daily DCE Review 21/2/22

Iron ore futures rebounded after a week of losses, as buying interests improved as steel production is expected to recover after the Winter Olympics. The futures of Dalian Commodity Exchange (DCE) for May delivery then rose by 4.74% day-on-day or up RMB 32 to RMB 707/mt, during the morning trading session on Monday. The rebar …

Iron Ore DCE May Daily Technical Review 18/2/22

Verdict – Short-term neutral. DCE iron ore May22 recovered from extreme sentiment after a low open last night, saw a slight recovering volume. Hourly slow stochastic KD created gold cross in oversold area. Hourly MACD widened above 0 axis. Technical signals were indicating a neutral sentiment and exhaustion on the previous sellers, however the mid-run …