Tag archives: IO

Iron Ore DCE Sep24 Daily Technical Review 16/04/24

Verdict- Neutral. DCE Sep24 corrected during the trading day, after when we mentioned be aware of market change yesterday. Hourly MACD widened in bearish territory. Hourly CCI entered bearish territory. As said in the last article, iron ore growth shouldn’t be sustainable because the past rebound witnessed 20% of OI loss from April 1st, which …

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Daily Virtual Steel Mill Report 16/04/24

Verdict: • Short-run Neutral.   Macro: • China March CPI fell 1.0% on the month, up 0.1% on the year. • After the sanction imposed from UK and US on Russia aluminum, Russian Aluminium giant Rusal said that new sanctions would have no impact on its supply to world market.   Iron Ore Key Indicators: …

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Iron Ore DCE Sep24 Daily Technical Review 15/04/24

Verdict- Neutral. DCE Sep24 contract rebounded by 2.18% from last settlement, however only increased by 2 yuan/ton from last closing. Hourly slow stochastic KD reached overbought area. Hourly CCI maintained in bullish territory. However be aware of the sensitivity loss on technical charts. In fact, DCE iron ore loss 7.5% on OI since the first …

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Daily Virtual Steel Mill Report 15/04/24

Verdict: • Short-run Neutral to Bullish.   Macro: • UK and US imposed sanctions on Russia metals including copper, aluminum and nickel. LME announced a suspension of warehouse warrant for Russian metals produced after April 13th. • From April 1st, China Shanxi province raised mineral resource tax from 8% to 10%, processing tax from 1.5% …

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