Category archives: Ferrous

Daily Virtual Steel Mill Report 17/01/24

Verdict: •  Short-run Neutral.   Macro: • ECB’s member Gediminas Simkus said investors are far less optimistic than markets on rate cuts. The salaries statistics were considered important. • China Premier Li Qiang attended the World Economic Forum 2024 Annual Meeting at the Davos and delivered a special speech, expected GDP growth about 5.2%, higher …

Continue reading “Daily Virtual Steel Mill Report 17/01/24”

Iron Ore DCE May24 Daily Technical Review 16/01/24

Verdict- Neutral to Bearish. DCE May24 contract tested low and rebounded by last half hour. Hourly MACD narrowed in bearish territory. Hourly slow stochastic KD flattened above oversold area. Iron ore saw exhaustion at current level. A hold on the low at 924.5 potentially bring iron ore into a consolidating phase. First support 924.5. First …

Continue reading “Iron Ore DCE May24 Daily Technical Review 16/01/24”

Daily Virtual Steel Mill Report 16/01/24

Verdict: • Short-run Bearish.   Macro: • The world bank published global economy outlook, mentioned global economy growth by 2.4% in 2024, unchanged with expectation at June 2024. The estimated growth rate of 2025 reached 2.7%, 0.3% lower than expected. • Rio Tinto published Q4 production and consumption report, Q4 iron ore production at 87.5 …

Continue reading “Daily Virtual Steel Mill Report 16/01/24”