Category archives: Ferrous

Iron Ore DCE Sep24 Daily Technical Review 23/04/24

Verdict- Neutral to Bearish. DCE Sep24 consolidated during most time of trading day, however tanked during last half hour. Although the low was supported by 847.0, iron ore potentially break this level in next session. Hourly MACD widened in bearish territory. Houry CCI reached bearish territory. The market entered bearish-run in short-term. First support 800.0. …

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Daily Virtual Steel Mill Report 23/04/24

Verdict: • Short-run Neutral.   Macro: • China April loan prime rate for 1-year length at 3.45%, unchanged from March. 5-year length loan prime rate at 3.95% unchanged from March.   Iron Ore Key Indicators: •Platts62 $116.85, -0.65, MTD $108.38. •During past week, Australia and Brazil total shipped 24.56 million tons, up 5.365 million tons …

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Iron Ore DCE Sep24 Daily Technical Review 22/04/24

Verdict- Neutral. DCE Sep24 corrected slightly during the trading day. Lack of new buyers in market led to loss on position on sustainability of the trend finally as we expected last week. Hourly MACD widened in bearish territory. Hourly KD created gold cross in oversold area. The short-run signals were indicating a potential to test …

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Daily Virtual Steel Mill Report 22/04/24

Verdict: • Short-run Neutral.   Macro: • The ECB regulator stated that the probability of 25bps or less interest cut in 2024 should be very low. It is currently difficult to predict the time of interest cut. The interest rate spread between the European Central Bank and the Federal Reserve may widen in future.   …

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