Daily Virtual Steel Mill Report 01/02/22

Market Verdict on Iron Ore: • Neutral.   Macro: • IMF published World Economy Development Outlook, increased China economy growth rate in 2023 by 0.8% to 5.2%. The organisation also increased global economy growth by 0.2% to 2.9%.   Iron Ore Key Indicators: • Platts62 $127.40, +0.40, MTD $122.64.Physical market started to see great volume …

Iron Ore DCE May23 Daily Technical Review 31/01/22

Verdict – Short-term neutral to bearish. DCE iron ore May23 contract corrected by closing, with the growing volume. Hourly MACD created dead cross. It is worth noting that daily slow stochastic KD and MACD both indicated a bearish divergence with the increasing price movement from December 20th. Moreover, iron ore was in an hourly correction …