Tag archives: IO

Daily Virtual Steel Mill Report 14/02/22

Market Verdict on Iron Ore： • Neutral to bearish.   Macro： • EU increase the growth rate of economy from 0.3% to 0.9%. At the same time, EU decreased the inflation expectation from 6.1% to 5.6% in 2023. EU indicated that Euro potentially had escaped technical recession.   Iron Ore Key Indicators: • Platts62 $121.85, …

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Iron Ore DCE May23 Daily Technical Review 13/02/22

Verdict – Short-term neutral. DCE iron ore May23 contract retreated from high during the day, as expected failed to extend gains. Mid-run MACD(daily chart) indciated a 35-trading-day in bearish territory, which created a bearish divergence with previous upticking price. Hourly slow stochastic KD created dead cross in February 10th and maintained weak. The first support …

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Daily Virtual Steel Mill Report 13/02/22

Market Verdict on Iron Ore： • Neutral.   Macro： • China January CPI up 2.1% on the year, lower than expected 2.3%, up 0.8% on the month, refreshed new high since January in 2021. China January PPI down 0.8% on the year, down 0.4% on the month.   Iron Ore Key Indicators: • Platts62 $126.10, …

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Iron Ore DCE May23 Daily Technical Review 10/02/22

Verdict – Short-term neutral. DCE iron ore May23 contract consolidated in narrow range during the day. Hourly MACD and slow stocahstic KD both indicated the price was moving in random pattern. The high was resisted below 870.5 level, indicated a strong short-run resistance at this level. Iron ore in short-term potentially maintain consolidation. The first …

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