Verdict: • Short-run Neutral. Macro: • The jobless files for US last week at 242,000, est. 225,000, last 229,000. US May PPI up 2.2%, est. up 2.5%, last up 2.2%. • EIA estimated a surplus of 8 million barrels of crude oil supply in 2030. Iron Ore Key Indicators: • Platts62 $106.60, +1.45, …
Category archives: Ferrous
European Close 13/06/24
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London Iron Ore Report 13/06/24
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Singapore Iron Ore Report 13/06/24
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Iron Ore DCE Sep24 Daily Technical Review 13/06/24
Verdict- Neutral to Bullish. DCE Sep24 rebounded today, however saw pressure under R1 at 824.5. Hourly MACD widened above bullish territory. Hourly slow stochastic KD rebounded fast. A breakthrough on 824.5 potentially reverse iron ore market to bull again. Iron ore in short-run potentially test high in next session. First support 780.0. First resistance 824.5. …
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Daily Virtual Steel Mill Report 13/06/24
Verdict: • Short-run Neutral to Bullish. Macro: • US Federal maintained unchanged for interest rate at 5.25-5.5%, fell into market expectations. However the recent matrix indicated that the probability of interest cut dropped from 3 times to 1 time in 2024. • On June 12th, the European Commission issued a statement proposing to impose …
European Close 12/06/24
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London Iron Ore Report 12/06/24
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Singapore Iron Ore Report 12/06/24
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Iron Ore Offshore July 24 Morning Technical Comment – 240 Min Chart 12/06/24
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