Daily Virtual Steel Mill Report 14/09/23

Verdict: • Short-run Neutral.   Macro: • US August CPI up 3.7%, higher than expected 3.6%, last 3.2%. Core CPI up 4.3%, est. 4.3%, last 4.7%. • Europe Union will launch a probe of EV subsidies against China.   Iron Ore Key Indicators: • Platts62 $122.60, +1.95, MTD $119.21. The mid-grade saw massive fixed trade …

Iron Ore DCE January24 Daily Technical Review 13/09/23

Verdict- Neutral. DCE Jan24 contract maintain rangebound and returned to the area of last closing. Hourly slow stochastic created dead cross in overbought area and flattened. Hourly CCI approached bullish territory. Hourly MACD narrowed in bullish area. Short-run technical was still indicating a neutral sentiment. First support 840.0. First resistance 867.5.