Daily Virtual Steel Mill Report 03/02/22

Market Verdict on Iron Ore: • Neutral.   Macro: • BOE increased interest rate by 50 bps at 4%, refreshed highest since October 2008. ECB increased interest rate by 50 bps to 3%.   Iron Ore Key Indicators: • Platts62 $126.70, -2.25.The yesterday market slumped following the China-Australia talk, traders expect more iron ore import …

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

Verdict – Short-term neutral to bearish. DCE iron ore May23 contract maintained correction as expected in previous trading days. The overlapping of mid-run and short-run bearish cycle finally caused a big correction. Hourly MACD expanded in bearish territory. Hourly slow stochastic KD deepened correction. Hourly CCI maintained in bearish territory. Technical signals were indicating testing …