Tag archives: IO

Iron Ore DCE May24 Daily Technical Review 24/01/24

Verdict- Neutral. DCE May24 contract rebounded following Asian equity warming. In hourly chart, CCI returned to bullish territory. Hourly MACD narrowed in bullish territory. Hourly slow stochastic KD entered overbought area. The open interest of May 24 contract was almost unchanged from late December, suggesting that the market was lack of long-term investment. Thus, a …

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Daily Virtual Steel Mill Report 24/01/24

Verdict: • Short-run Neutral.   Macro: • The Bank of Japan announced that it will maintain its current monetary policy unchanged and continue to adhere to the inflation control target of 2%. The Bank of Japan kept the short-term interest rate at negative 0.1% and kept the long-term interest rate at zero by purchasing long-term …

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Daily Virtual Steel Mill Report 23/01/24

Verdict: • Short-run Neutral.   Macro: • Maersk diverts ME2 service around the Cape of Good Hope because the situation around Redsea and the Gulf of Aden remained unstable.   Iron Ore Key Indicators: • Platts62 $129.45, -1.10, MTD $135.17. There was no seaborne trade yesterday. Although there was a small recovery on pig iron …

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