Category archives: Ferrous

Iron Ore DCE Sep24 Daily Technical Review 21/05/24

Verdict- Neutral. DCE Sep24 rebounded during last half hour with growing open interest. Hourly MACD narrowed in bullish territory. The hike was believed as testing pressure on 906.0 level. If iron ore stand on 906.0, the price expected to strengthen. Otherwise iron ore potentially consolidate in the old range between 870.0 – 906.0 again. First …

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Daily Virtual Steel Mill Report 21/05/24

Verdict: • Short-run Neutral.   Macro: • BOE’s Broadbent said UK interest rate may drop this summer. • Chinese builder Vanke took on more loans with 1.2 billion yuan deal.   Iron Ore Key Indicators: • Platts62 $118.50, +0.50, MTD $117.02. The fast depleting on IOCJ supported the high grade price. In general, MB65- P62 …

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