Tag archives: IO

Iron Ore DCE Sep24 Daily Technical Review 10/07/24

Verdict- Neutral. The weak performance in China equity and metal sector dragged performance of iron ore. Hourly MACD widened in bearish territory. Hourly CCI entered bearish territory. Iron ore slowed down the correction during last two hours. Iron ore potentially regain support if standing on 810.0 level in next few sessions. Iron ore in short-run …

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Daily Virtual Steel Mill Report 10/07/24

Verdict: • Short-run Neutral.   Macro: • Both S&P 500 and Nasdaq hit new closing highs on Tuesday, driven by the rise of Nvidia. Earlier, Federal Reserve Chairman Powell told lawmakers that more “good” economic data would strengthen the reason for interest rate cuts. The S&P 500 index rose 0.07% to close at 5576.98. The …

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Daily Virtual Steel Mill Report 09/07/24

Verdict: • Short-run Neutral.   Macro: • China central bank PBOC announced to carry out a new tool: an afternoon window for reverse repo operations to help manage intra-day liquidity and ease market panic for potential funding tension.   Iron Ore Key Indicators: • Platts62 $108.65, -1.85, MTD $111.21. Iron ore market entered watch and …

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