Category archives: Ferrous

Daily Virtual Steel Mill Report 29/04/24

Verdict: • Short-run Neutral.   Macro: • World Steel Association statistic indicated that the total pig iron production reached 318 million tons in Q1 among the 37 major countries, down 1.4% on the year. These 37 major countries accounted for 98.25% of capacities over the world. • Russia announced to cancel tariffs on the thermal …

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Iron Ore DCE Sep24 Daily Technical Review 26/04/24

Verdict- Neutral. DCE Sep24 consolidated with loss on both OI and volume. Hourly slow stochastic KD created gold cross above oversold area. Hourly MACD narrowed in bearish territory. Hourly candles indicated a potential roof area if rejected by last high at 906.5 in few more trading days. Market entered holiday mode, be aware of mid-run …

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Daily Virtual Steel Mill Report 26/04/24

Verdict: • Short-run Neutral.   Macro: • According to data released by the US Department of Commerce, the US real gross domestic product (GDP) grew at an annual rate of 1.6% in the first quarter of this year, which is significantly narrower than the 3.4% growth rate in the fourth quarter of last year, est. …

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