Tag archives: IO

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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Iron Ore DCE May24 Daily Technical Review 22/01/24

Verdict- Neutral. DCE May24 contract traded within narrow rangebound during the day as expected. Hourly MACD narrowed in bullish territory. Hourly slow stochastic KD created dead cross below overbought area. Hourly CCI broke overbought area to neutral area. Short-run technical signals were indicating a slow movement for iron ore market. First support 915.0. First resistance …

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Daily Virtual Steel Mill Report 22/01/24

Verdict: • Short-run Neutral to Bearish.   Macro: • US existing home sales decline to historical worst since 1995, contract closings decreased by 1% from a month earlier to a 3.78 million annualised rate. • US January inflation rate reached 2.9%, refreshed the lowest since 2020.   Iron Ore Key Indicators: • Platts62 $130.55, -0.50, …

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