Tag archives: IO

Iron Ore DCE Jan25 Daily Technical Review 08/08/24

Verdict- Neutral to Bearish, testing support on 704.0. DCE iron ore corrected significantly during the day. Hourly MACD widened in bearish territory. Hourly slow stochastic KD entered bearish area. If iron ore broke important support at 704.0, the market should face huge downside risk. Otherwise iron ore potentially see mid-run level rebound. First support 704.0. …

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Daily Virtual Steel Mill Report 08/08/24

Verdict: • Short-run Neutral.   Macro: • China iron ore import in July up by 5% on the month at 102.81 million tons, because of miners increase shipments in June to finish year-end delivery target. • Bank of Japan sent strong dovish signal after the huge financial market volatility spread over the world. The governor …

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Daily Virtual Steel Mill Report 07/08/24

Verdict: • Short-run Neutral.   Macro: • The Panama Canal Authority announced on August 5th that the maximum draft standard for ships passing through the canal will be raised to 49 feet from today. This standard has been raised again after being increased to 48 feet on July 11th, 2024. The Canal Authority explained that …

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