Category archives: Ferrous

Daily Virtual Steel Mill Report 30/05/24

Verdict: • Short-run Neutral.   Macro: • US Beige Book expected a mild growth recently on the consumer price. • IMF raised its forecast for China’s projected economic growth to 5% from 4.6% in 2025. • China State Council issued the Action Plan for Energy Conservation and Carbon Reduction from 2024 to 2025, which required …

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Iron Ore DCE Sep24 Daily Technical Review 29/05/24

Verdict- Neutral. DCE Sep24 corrected following the neutral to bearish outlook from beginning of the week. However, iron ore potentially regained support above 880.0 level. There were five flat hourly candles created and followed with a rebound in last hour, a signal of exhaustion on the selling side. Hourly slow stochastic KD created gold cross …

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Daily Virtual Steel Mill Report 29/05/24

Verdict: • Short-run Neutral.   Macro: • In May, consumer confidence in the US unexpectedly rebounded after three consecutive months of deterioration, with the Consumer Confidence Index rising from an upward revised 97.5 in April to 102.0 this month. Previously, a Reuters survey predicts that the index will drop from the previously reported 97.0 to …

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