Category archives: Ferrous

Iron Ore DCE Sep24 Daily Technical Review 26/04/24

Verdict- Neutral. DCE Sep24 consolidated with loss on both OI and volume. Hourly slow stochastic KD created gold cross above oversold area. Hourly MACD narrowed in bearish territory. Hourly candles indicated a potential roof area if rejected by last high at 906.5 in few more trading days. Market entered holiday mode, be aware of mid-run …

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Daily Virtual Steel Mill Report 26/04/24

Verdict: • Short-run Neutral.   Macro: • According to data released by the US Department of Commerce, the US real gross domestic product (GDP) grew at an annual rate of 1.6% in the first quarter of this year, which is significantly narrower than the 3.4% growth rate in the fourth quarter of last year, est. …

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Daily Virtual Steel Mill Report 25/04/24

Verdict: • Short-run Neutral.   Macro: • DCE: From trading on April 26th, non-futures company members or customers were not allowed to open more than 500 lots per day on May24 and Sep24 contracts. For other contracts, less than 2000 lots per day. • Anglo American Q1 iron ore production at 15.14 million tons, up …

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