Tag archives: IO

Iron Ore DCE May23 Daily Technical Review 10/02/22

Verdict – Short-term neutral. DCE iron ore May23 contract consolidated in narrow range during the day. Hourly MACD and slow stocahstic KD both indicated the price was moving in random pattern. The high was resisted below 870.5 level, indicated a strong short-run resistance at this level. Iron ore in short-term potentially maintain consolidation. The first …

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Daily Virtual Steel Mill Report 10/02/22

Market Verdict on Iron Ore： • Neutral.   Macro： • China NDRC held meeting to improve price stablisation in 2023, including strengthening supply, enhancing price mechanism and increasing effective price management.   Iron Ore Key Indicators: • Platts62 $125.50, +2.60, MTD $124.61. Recently BHP sold few laycans of JMBF at IODEX March Index and a …

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Iron Ore DCE May23 Daily Technical Review 09/02/22

Verdict – Short-term neutral. DCE iron ore May23 contract rebounded for the second trading day and brought the price trend from bearish to neutral. Hourly MACD widened in bullish territory. Hourly slow stochastic KD approached overbought area. Hourly CCI entered bullish territory. The technical signals were indicating a potential to test high in next few …

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Daily Virtual Steel Mill Report 09/02/22

Market Verdict on Iron Ore： • Neutral.   Macro： • EIA predicted the WTI price reached $83.63/barrel in 2023, $77.84/barrel in 2024.   Iron Ore Key Indicators: • Platts62 $122.90, +1.20, MTD $124.46. The BHP operation stoppage for 24 hours had limited impact on the production and shipment of iron ore. BHP sold JMBF at …

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