Category archives: Ferrous

Iron Ore DCE Sep24 Daily Technical Review 14/05/24

Verdict- Neutral. DCE Sep24 gave back all gains created yesterday. Iron ore still consolidate in the range from 855.0- 891.0 from April 24th. Hourly MACD created dead cross, however seeing flatter movement. Hourly slow stochastic KD corrected after a dead cross. Hourly CCI was approaching oversold boundary. Maintain neutral unless an effective breakdown on 855.0. …

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Daily Virtual Steel Mill Report 14/05/24

Verdict: • Short-run Neutral to Bearish.   Macro: • Anglo American rejected second offer of $42.7 billion from BHP, saying the undervalue of the company.   Iron Ore Key Indicators: • Platts62 $117.25, +0.65, MTD $117.33. There was lack of concentrates trade yesterday, given a derailment news from Rio Tinto. China total iron ore arrivals …

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