Category archives: Ferrous

Daily Virtual Steel Mill Report 08/05/24

Verdict: • Short-run Neutral to Bearish.   Macro: • The European stock market hit a record high, with strong performance from UBS and UniCredit, boosting optimism about interest rate cuts. The STOXX 600 index rose 1.1%, marking its best daily performance in over three months. The Spanish stock index rose 1.5%. The French stock CAC-40 …

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Iron Ore DCE Sep24 Daily Technical Review 07/05/24

Verdict- Neutral. DCE Sep24 gave back most of gains created on Monday, as expected. Hourly CCI corrected from bullish territory to neutral area. Hourly MACD potentially create dead cross. A further breakdown in the daily low at 882.0 would initiate a fast correction. Otherwise iron ore maintains consolidation. First support 862.0. First resistance 902.0.   …

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Daily Virtual Steel Mill Report 07/05/24

Verdict: • Short-run Neutral.   Macro: • China Daily: Xi says there is no such thing as “China overcapacity” in a China-France-EU trilateral meeting with French President Emmanuel Macron and European Commission President Ursula von der Leyen, and urged to increase cooperation in green and data transition and decrease trade barriers. • US Federal Williams …

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