Tag archives: IO

Iron Ore DCE Sep24 Daily Technical Review 22/05/24

Verdict- Neutral. DCE Sep24 rebounded during the trading day and approached area below several highs of the year. The contract saw listed high at 942.0 yuan, second high at 930.0 yuan and intraday high at 925.0. Hourly MACD expanded in bullish territory. Hourly CCI entered bullish territory. Be aware of market reversal risk before iron …

Continue reading “Iron Ore DCE Sep24 Daily Technical Review 22/05/24”

Daily Virtual Steel Mill Report 22/05/24

Verdict: • Short-run Neutral.   Macro: • China NBS: In April, China’s crude steel production was 85.943 million tons, a year-on-year decrease of 7.2%. Crude steel production from January to April was 34.3672 million tons, a year-on-year decrease of 3.0%. China’s iron ore production reached 87.904 million tons, a year-on-year increase of 11.5%. The cumulative …

Continue reading “Daily Virtual Steel Mill Report 22/05/24”

Iron Ore DCE Sep24 Daily Technical Review 21/05/24

Verdict- Neutral. DCE Sep24 rebounded during last half hour with growing open interest. Hourly MACD narrowed in bullish territory. The hike was believed as testing pressure on 906.0 level. If iron ore stand on 906.0, the price expected to strengthen. Otherwise iron ore potentially consolidate in the old range between 870.0 – 906.0 again. First …

Continue reading “Iron Ore DCE Sep24 Daily Technical Review 21/05/24”

Daily Virtual Steel Mill Report 21/05/24

Verdict: • Short-run Neutral.   Macro: • BOE’s Broadbent said UK interest rate may drop this summer. • Chinese builder Vanke took on more loans with 1.2 billion yuan deal.   Iron Ore Key Indicators: • Platts62 $118.50, +0.50, MTD $117.02. The fast depleting on IOCJ supported the high grade price. In general, MB65- P62 …

Continue reading “Daily Virtual Steel Mill Report 21/05/24”