Tag archives: IO

Iron Ore DCE May23 Daily Technical Review 27/03/22

Verdict- Bearish in Short-run. DCE May23 contract didn’t create deeper correction as expected last Friday. Iron ore stablised and recovered major support area from 855.0 – 860.0. The next resistance from 883.0 would potentially provide strong pressure, which was a neckline in mid-run. A rejection on 883.0 potentially bring iron ore back to correction phase. …

Continue reading “Iron Ore DCE May23 Daily Technical Review 27/03/22”

Daily Virtual Steel Mill Report 27/03/22

Market Verdict on Iron Ore： • Neutral.   Macro： • U.S. Market Manufacturing PMI at 49.3, refreshed the highest since October 2022, est. 47, last 47.3. • China central bank PBOC officially cut RRR by 25 bps on March 27th, equivalent to 600 billion yuan of mid-term liquidity.   Iron Ore Key Indicators: • Platts62 …

Continue reading “Daily Virtual Steel Mill Report 27/03/22”

Iron Ore DCE May23 Daily Technical Review 24/03/22

Verdict- Neutral in Short-run. DCE May23 contract tested low and recovered loss. The rolling was slower than previous years, expected to complete in late next week. Hourly iron ore completed a 5 wave correction, yet to see a mid-run satblisation. Hourly slow stochastic created gold cross in oversold area. Hourly MACD created gold cross. Iron …

Continue reading “Iron Ore DCE May23 Daily Technical Review 24/03/22”

Daily Virtual Steel Mill Report 24/03/22

Market Verdict on Iron Ore： • Neutral.   Macro： • The Bank of England announced a 25 basis point increase in its benchmark interest rate to 4.25%, in line with market expectations. This is the 11th consecutive interest rate hike by the Bank of England since December 2021. The Bank of England said signs of …

Continue reading “Daily Virtual Steel Mill Report 24/03/22”