Category archives: Ferrous

Daily Virtual Steel Mill Report 19/07/24

Verdict: • Short-run Neutral.   Macro: • US jobless claims during past week reached 243,000, est. 230,000, last 223,000.   Iron Ore Key Indicators: • Platts62 $105.30, +0.35, MTD $108.91. China 45 ports iron ore inventories at 151.31 million tons, up 1.42 million tons on the week, up 25.90 million tons on the year. Daily …

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Iron Ore DCE Sep24 Daily Technical Review 18/07/24

Verdict- Neutral to Bullish. Iron ore was traded in narrow range as expected. The low of day reached 798.0, which was higher than first support at 791.0. Hourly MACD narrowed in bearish territory. Hourly slow stochastic KD created gold cross in oversold area. CCI reversed from three month low to neutral area. Iron ore potentially …

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Daily Virtual Steel Mill Report 18/07/24

Verdict: • Short-run Neutral.   Macro: • Vale announced unchanged on its production target in 2024 from 310 – 320 million tons. The H1 2024 produced 151 million tons, accounted for 47.19-48.7% of total production target. However, the annual production expected to reach the higher boundary of estimation because of seasonal high delivery in H2. …

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