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

Verdict – Short-term neutral.   DCE iron ore September refreshed new high, however the last two-day rebound was along with significant smaller rebound. Thus, the extension of bullish run needs to see massive changing hands in the next few sessions. Hourly techncial signals were starting to show bearish divergence with price movement. Hourly MACD narrowed …

Daily Virtual Steel Mill Report 01/06/22

Market Verdict on Iron Ore: • Neutral to bullish.   Macro • Eurozone May adjusted CPI up 8.1% y-o-y, refreshed record high. Est. 7.8%, last 7.5%. • U.S. president Joe Biden held a rare meeting with Federal Reserve Chair Jerome Powell to tackle decades-high inflation ahead of the November midterm and simultaneously maintain the independence …

Iron Ore DCE September Daily Technical Review 31/05/22

Verdict – Short-term neutral.   DCE iron ore September breakthrough important resistance area at 887.5 and brought iron ore into a strong trend with narrowing volume. Hourly MACD narrowed above 0 axis. Hourly slow stochastic KD created consolidated above oversold area. Hourly CCI entered bullish territory during early session however corrected back fast. With narrowing …

Daily Virtual Steel Mill Report 31/05/22

Market Verdict on Iron Ore: • Neutral.   Macro • German CPI refreshed 50-year-high, supported the rationale to increase 50 basis points in July. • The EU agreed to ban 90% of Russia’s oil imports by the end of 2022.   Iron Ore Key Indicators: • Platts62 $136.60, +2.15, MTD $133.34. Seaborne PBF gathered interests …