Tag archives: IO

A Room with a Technical View 05/09/22

Capesize October Futures – The futures roll has resulted in the technical producing an upside gap due to the carry against the September futures. We have seen a couple of bullish days following the roll, resulting in price trading into the Fibonacci resistance zone; however, the upside move has failed to trade above the USD …

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Iron Ore DCE January Daily Technical Review 05/09/22

Verdict – Short-term neutral to bullish.   DCE iron ore January contract spiked and reversed the bearish sentiment during the day. However the intra-day high was resisted by major resistance level from 697.5-700.0. Hourly MACD widened above 0 axis. Hourly CCI was in bullish territory. Short-run technical signals were indicating a potential to test high …

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Daily Virtual Steel Mill Report 05/09/22

Market Verdict on Iron Ore： • Neutral.   Macro • An official from the Ministry of Industry and Information Technology (MIIT) said at the raw material industry high-quality development press conference that the prices of steel, copper, aluminum, cement and other products have declined recently, and that the MIIT will continue to ensure supply and …

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ArcelorMittal Shuts Down German Blast Furnace 05/09/22

Leading steelmaker ArcelorMittal is going to idle blast furnace three at its Bremen site in Germany from the end of September indefinitely, due to unsustainable energy costs in Europe. The furnace can produce 1.2mn t/yr of pig iron.   The producer will also stop a direct reduction plant in Hamburg, where it produces wire rod, …

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