Category archives: Ferrous

Iron Ore DCE Sep24 Daily Technical Review 15/04/24

Verdict- Neutral. DCE Sep24 contract rebounded by 2.18% from last settlement, however only increased by 2 yuan/ton from last closing. Hourly slow stochastic KD reached overbought area. Hourly CCI maintained in bullish territory. However be aware of the sensitivity loss on technical charts. In fact, DCE iron ore loss 7.5% on OI since the first …

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Daily Virtual Steel Mill Report 15/04/24

Verdict: • Short-run Neutral to Bullish.   Macro: • UK and US imposed sanctions on Russia metals including copper, aluminum and nickel. LME announced a suspension of warehouse warrant for Russian metals produced after April 13th. • From April 1st, China Shanxi province raised mineral resource tax from 8% to 10%, processing tax from 1.5% …

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Iron Ore DCE Sep24 Daily Technical Review 10/04/24

Verdict- Neutral. DCE Sep24 contract slight corrected from last closing. The price movement saw some exhaustion with evaporation of open interest and volume. Hourly MACD narrowed in bullish territory. Hourly slow stochastic KD created dead cross in overbought area. Hourly CCI corrected from bullish area to neutral area. In short-run, iron ore is waiting for …

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Daily Virtual Steel Mill Report 10/04/24

Verdict: • Short-run Neutral to Bullish.   Macro: • The US Energy Information Agency (EIA) has lowered its global oil demand growth forecast for 2024 by 480,000 barrels per day to 950,000 barrels per day. The institution has also lowered its forecast for oil demand growth in 2025 by 30,000 barrels per day to 1.35 …

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