Tag archives: IO

Iron Ore DCE September Daily Technical Review 28/07/22

Verdict – Short-term bullish.   DCE iron ore September recovered loss from yesterday and refreshed new high from June 30th with expand volume. The breakthrough on resistance of 822.5 would confirm the price movement remaining strong. Otherwise, rejection would mean a considerable correction because current indicators were showing big volatilities rather than a flat structure. …

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Daily Virtual Steel Mill Report 28/07/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro • U.S. Federal increased 75 basis points in last FOMC to 2.25-2.5%, as expected. • G7 revealed to set up a price-ceiling for Russian oil effective from December 5th.   Iron Ore Key Indicators • Platts62 $111.05, -0.65, MTD $106.24. The term contract discounts …

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Rio Tinto Inks Deal For Guinea iron ore project 28/07/22

Rio Tinto Inks Deal to Unlock Huge Simandou Iron Ore Project   Rio Tinto Group said it’s formed a joint venture with the Guinea government and Winning Consortium Simandou to develop infrastructure including a railway and port, in a breakthrough that should help unlock the world’s biggest untapped iron ore deposit. “The parties will now …

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Iron Ore DCE September Daily Technical Review 27/07/22

Verdict – Short-term neutral.   DCE iron ore September failed to break through the concentrated trading level around 750.0 by closing. Thus, iron ore potentially reached periodic high area. Slow stochastic KD created dead cross in overbought area and deepened correction. Hourly CCI created bearish divergence. Hourly MACD potentially creating dead cross. Technical signals were …

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Daily Virtual Steel Mill Report 27/07/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro • IMF decreased global GDP growth in 2022 from 3.6% to 3.2%. • U.S. white house indicated that the country would release 20 million barrels of crude oil supply from its national reserve, 1 million barrels on daily basis. • Chinese Machinery Association statistic …

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