Category archives: Ferrous

Daily Virtual Steel Mill Report 22/03/24

Verdict: • Short-run Neutral.   Macro: • US jobless claims last week at 210,000, estimated 213,000, last 209,000.   Iron Ore Key Indicators: • Platts62 $110.65, +4.15, MTD $110.96. The procurement of iron ore was majorly based on real-demand. The market participants agreed a slow demand for iron ore compared to past five years during …

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Iron Ore DCE May24 Daily Technical Review 20/03/24

Verdict- Neutral. DCE May24 contract retreated from a slight high open by closing time. Hourly MACD corrected after a volume boost. Hourly CCI retreated to neutral area from bullish territory. The current area from 818.5 – 837.0 became a rangebox. A breakthrough on the boundary of the box would indicate a new trend in short-run. …

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Daily Virtual Steel Mill Report 20/03/24

Verdict: • Short-run Neutral to Bullish.   Macro: • Bank of Japan announced an interest rise by 10bps to 0% – 0.1%. The eight-year length negative interest rate officially terminated.   Iron Ore Key Indicators: • Platts62 $107.90, +2.65, MTD $111.33. The fast recovery on derivatives market as well as the return of China demand …

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