Tag archives: IO

Daily Virtual Steel Mill Report 03/04/24

Verdict: • Short-run Neutral.   Macro: • US Federal Governor Loretta Mester indicated that it is less likely to see interest cut in or before May, however possible in June. Mester expected three interest cut in 2024.   Iron Ore Key Indicators: • Platts62 $102.25, -0.25, MTD $102.38. The market saw active trade before China …

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Iron Ore DCE Sep24 Daily Technical Review 02/04/24

Verdict- Neutral to Bullish. DCE Sep24 contract consolidated during the trading day, maintain a slight bullish outlook in short-run. Hourly stochastic KD entered overbought area. Hourly MACD widened in bullish territory. The intraday high reached 775.5. The next breakthrough on 780.0 potentially lead to an acceleration of rebound. First support 728.0. First resistance 780.0.   …

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