Category archives: Ferrous

Daily Virtual Steel Mill Report 24/05/24

Verdict: • Short-run Neutral.   Macro: • US initial jobless claims was 215,000 last week, down 8,000 from previous week, created the biggest single week decrease of the year. • European Central Bank President Lagarde said that due to the trend of rapid consumer price growth, interest rates may become lowered in next month. The …

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Iron Ore DCE Sep24 Daily Technical Review 23/05/24

Verdict- Neutral to Bearish. DCE Sep24 corrected following the sharp correction of gold and copper during the day. As we mentioned in the last report, the last growth was not sustainable. Hourly slow stochastic KD created dead cross in overbought area and deepened correction. Hourly CCI was approaching bearish territory. Hourly MACD created dead cross …

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Daily Virtual Steel Mill Report 23/05/24

Verdict: • Short-run Neutral.   Macro: • On May 23rd, the China National Development and Reform Commission, the Central Bank, and other four departments mentioned promoting stable and moderate reductions in loan interest rates, optimizing tax and fee preferential policies, implementing structural tax reduction and fee reduction policies and strengthening scientific and technological innovation. Appropriately …

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