Category archives: Ferrous

Daily Virtual Steel Mill Report 21/06/24

Verdict: • Short-run Neutral.   Macro: • The Ministry of Housing and Urban Rural Development held a conference on acquisition of existing commercial houses for use as affordable houses. Many regions should promote cities at or above the county level to effectively and orderly carry out the purchase of existing commercial housing as affordable housing. …

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Iron Ore DCE Sep24 Daily Technical Review 20/06/24

Verdict- Neutral. DCE Sep24 consolidated in narrow range as expected in previous days. Hourly MACD widened in bearish territory. Hourly CCI and KD were in neutral area. If iron maintain trading in 20 yuan/ton range, the price will be hard to see directional movement. A breakdown on 814.0 or a breakthrough on 840.0 potentially drive …

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Daily Virtual Steel Mill Report 20/06/24

Verdict: • Short-run Neutral.   Macro: • During the Finance Forum in Lujiazui, Shanghai, PBOC’s Pan signals supportive monetary in China, however with limits. The chairman of Regulatory body CSRC mentioned strategic role of high quality development among listed companies, improving companies value and protecting investors rights.   Iron Ore Key Indicators: • Platts62 $107.35, …

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