Verdict: • Short-run Neutral. Macro: • Last week, the number of initial jobless claims in the US was 232,000, est. 230,000, last revised from 227,000 to 228,000. • World Steel Association: In July 2024, the crude steel production of 71 countries included in the World Steel Association’s statistics was 152.8 million tons, a year-on-year …
Category archives: Products
Capesize and Panamax FFA Report 22/08/24
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Supramax and Handysize FFA Report 22/08/24
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Oil and Products Evening Report 22/08/24
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London Iron Ore Report 22/08/24
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Freight Index Report 22/08/24
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Singapore Iron Ore Report 22/08/24
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Tanker FFA Report 22/08/24
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Iron Ore DCE Jan25 Daily Technical Review 22/08/24
Verdict- Neutral. DCE iron ore saw a correction during the day. Hourly MACD narrowed in bullish territory. Hourly CCI corrected from bullish area to neutral area. Slow stochastic KD created dead cross in overbought area. If standing on 716.0, iron ore potentially see chances of next rebound. First support 716.5. First resistance 747.5.
Daily Virtual Steel Mill Report 22/08/24
Verdict: • Short-run Neutral to Bullish. Macro: • According to US Federal notes overnight, the Federal expected to cut interest rate once in September, and one more cut in late 2024. The Federal expected an ease monetary condition in 2025. Iron Ore Key Indicators: • Platts62 $97.90, +2.80, MTD $98.33. As we expected …