Tag archives: IO

Iron Ore DCE May23 Daily Technical Review 06/01/22

Verdict – Short-term neutral. DCE iron ore May23 contract recovered the loss of previous two trading days, yet to see a clear rebound signal at this level. Hourly MACD created gold cross. Hourly slow stochastic KD created higher gold cross in neutral area. Technical signals were indicating a test high. The first support is 820.0. …

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Daily Virtual Steel Mill Report 06/01/22

Market Verdict on Iron Ore： • Neutral.   Macro: • China Caixin December PMI at 48.0, last 46.7, est. 46.8. • U.S. December ADP employment increased by 235,000, higher than expected 150,000, last 127,000.   Iron Ore Key Indicators: • Platts62 $117.20, +0.20, MTD $117.28. PBF float premium were assessed at $1.2-1.8 based on February …

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Iron Ore DCE May23 Daily Technical Review 05/01/22

Verdict – Short-term neutral to bearish. DCE iron ore May23 contract entered a short-run correction phase from hourly candles chart. Hourly MACD located in bearish territory. However hourly CCI recovered from bearish territory to neutral area. Iron ore has confliction on the level of 840.5-841.0 currently. Iron ore expected to test low in next few …

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Daily Virtual Steel Mill Report 05/01/22

Market Verdict on Iron Ore： • Neutral to bearish.   Macro: • Europe council predicted that Eurozone GDP average growth rate at 0.3%, lower than last expectation at 2.3% in early 2022. • U.S. FOMC participants indicated a slow down on interest hike, yet to see any sign of interest decrease in 2023.   Iron …

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