Tag archives: IO

Daily Virtual Steel Mill Report 24/08/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro • China NBS: July excavators produced 19,612 units, down 3.2% on the year. Jan-July total produced 185,743 units, down 25.6% on the year. Jan- July total sold 161,033 units, down 33.2% on the year. • World Steel Association statistic indicated that 64 member countries …

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Iron Ore DCE January Daily Technical Review 23/08/22

Verdict – Short-term neutral to bullish.   DCE iron ore January successfully breakthrough the important resistance at 700.0, which used to be a level to see the most market reversals since the contract listed. Thus, 700.0 level is also seen as an intra-day level support from now on. Hourly slow stochastic KD created gold cross …

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A Room with a Technical View 15/08/22

Capesize September Futures – As highlighted last week, the futures remained technically bearish with the divergence failing, warning we had the potential to test the USD 11,625-USD 11,415 support zone if the intraday divergence failed. The price traded to a low of USD 10,950 before moving USD 1,000 higher. The futures remain technically bearish and …

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