Tag archives: IO

Daily Virtual Steel Mill Report 08/09/23

Verdict: • Short-run Neutral to Bearish.   Macro: • US jobless claims reached 216,000, est. 234,000, last 228,000. • Some southern cities, including the biggest city in the south, Guangzhou, China was suffering from heavy rain and floods. HKEX closed on Friday because of the extreme weather.   Iron Ore Key Indicators: • Platts62 $117.70, …

Continue reading “Daily Virtual Steel Mill Report 08/09/23”

Iron Ore DCE January24 Daily Technical Review 07/09/23

Verdict- Neutral. DCE Jan24 contract tested low hit at 831.0. A breakdown on 831.0 in next session would indicate a reversal from bullish to bearish in mid-run. Otherwise, standing on this level would maintain iron ore at neutral area. Hourly CCI entered bearish area. Hourly MACD widened in bearish territory. First support 831.0. First resistance …

Continue reading “Iron Ore DCE January24 Daily Technical Review 07/09/23”

Daily Virtual Steel Mill Report 07/09/23

Verdict: • Short-run Neutral.   Macro: • China engaged to initiate discussion with ASEAN countries in fields of NEVs and photovoltaics areas. • The US Beige book indicated that the economy and job growth rates potentially slow down in July and August. Many enterprises expected a slow down on salaries growth.   Iron Ore Key …

Continue reading “Daily Virtual Steel Mill Report 07/09/23”