Tag archives: IO

Daily Virtual Steel Mill Report 21/11/22

Market Verdict on Iron Ore： • Neutral.   Macro: • Multiple Chinese departments indicated that to support housing development and resolve financing and restructures. • U.S. houses sales decreased for nine month consecutively, however house price up 128 months consecutively. The 30-year mortgage rate reached 20-year-high.   Iron Ore Key Indicators: • Platts62 $96.25, -2.85, …

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A Room with a Technical View 21/11/22

Capesize Dec Futures – The trend remains bearish, having traded down to the 100% projection level at USD 8,500 (low USD 8,525). We remain below all key moving averages supported by the RSI below 50; however, the RSI is now in divergence with price, warning that we have the potential to see a momentum slow …

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Iron Ore DCE January Daily Technical Review 21/11/22

Verdict – Short-term neutral. DCE iron ore January contract tested low and recovered most of loss during the day. In short-run MACD potentially re-enter into bullish territory. However buyers should be aware of the short-run money taking gains after filled up the technical gap created in Asia morning. If a breakthrough on 750.0 would indicate …

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Daily Virtual Steel Mill Report 21/11/22

Market Verdict on Iron Ore： • Neutral.   Macro: • U.S. Atlantic Federal president Raphael Bostic indicated that he decided to “give up” 75 interest hike in December FOMC, and believed that target policy interest rate of the Federal Reserve only needs to be raised by no more than 100 bps to fight inflation. • …

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