Category archives: Ferrous

Iron Ore DCE Jan25 Daily Technical Review 31/07/24

Verdict- Neutral to Bullish. DCE iron ore Jan25 tested low last night and rebounded significantly during the day. The low of the day fell just on the first support we mentioned on last report. Hourly MACD was on bullish territory. However the first two long candles during the morning session with massive volume indicated a …

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Daily Virtual Steel Mill Report 31/07/24

Verdict: • Short-run Neutral to Bullish.   Macro: • The Eurozone GDP in Q2 after adjusted increased by 0.6% on the year and 0.3% on the month, both higher than market expectations. • Glencore copper production in H1 2024 was 462,600 tons, decreased by 5% on the year. Nickel production decreased by 5% at 44,200 …

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Iron Ore DCE Jan25 Daily Technical Review 30/07/24

Verdict- Neutral. Iron ore corrected significantly during the trading day by 3.22%. Iron ore active rolled from Sep24 to Jan25 during this week. New sellers and previous rolling gathered in January contract as increased aggregated open interest, which triggered big drop. Hourly MACD widened in bearish territory. Hourly slow stochastic KD reached oversold area. In …

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Daily Virtual Steel Mill Report 30/07/24

Verdict: • Short-run Neutral.   Macro: • The Bureau of the Ministry of Industry and Trade of Vietnam has issued a notice officially launching anti-dumping investigations on hot rolls originating from China and India. From January to June 2024, the total amount of steel exported from China to Vietnam reached 6.37 million tons, a year-on-year …

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