Category archives: Ferrous

Iron Ore DCE May24 Daily Technical Review 13/03/24

Verdict- Neutral. DCE May24 contract corrected during the trading day after a short-run recovery during last night. Hourly MACD narrowed. Hourly slow stochastic KD entered oversold territory. Hourly CCI entered bearish territory. Both open interest and volume increased. If iron ore gained support around 800.0 level, the market potentially see reversal. Otherwise iron ore maintains …

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Daily Virtual Steel Mill Report 13/03/24

Verdict: • Short-run Neutral.   Macro: • US Labour department statistics indicated February CPI up 0.4% on the month, up 3.2% on the year, both fell into expectations. The strong CPI indicated a stubborn inflation condition, which decreased the probability to see interest cut before June. • EIA increased daily oil production by 90,000 barrels/day, …

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Daily Virtual Steel Mill Report 12/03/24

Verdict: • Short-run Neutral.   Macro: • The State Administration of Financial Supervision of China is researching to reduce the down payment of purchasing passenger cars and further optimise the pricing mechanism of new energy vehicles. • US whitehouse expected a slow down on economy growth with stubborn inflation, and predicted CPI growth by 2.9% …

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