Tag archives: IO

Daily Virtual Steel Mill Report 18/10/22

Market Verdict on Iron Ore： • Neutral.   Macro： • The new British Chancellor of the exchequer overturned Prime Minister Truss’s huge energy subsidy plan. Supported by the news, the British pound rose 1.54%, and the FTSE index was nearly 1% by closing. • U.S. EIA report indicated the biggest shale oil basin production estimated …

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Rio Tinto Aims For Bottom Of 2022 Iron Ore Target 18/10/22

UK-Australian mining firm Rio Tinto expects to come in at the bottom of its 320mn-335mn t guidance for 2022, after shipping 82.92mn t on a 100pc basis from its Western Australian (WA) operations during July-September.     The firm has a target of 85.71mn t for October-December to hit the bottom of its 2022 guidance, …

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A Room with a Technical View 17/10/22

Capesize November Futures – Technically bearish last week on the break in the head and shoulders pattern below USD 14,750, the futures targeted the USD 11,125 and USD 8,575 support levels. The downside break has been followed by 4 days of consolidation, with price trading between USD 13,500 and USD 15,500. The futures are moving …

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Iron Ore DCE January Daily Technical Review 17/10/22

Verdict – Short-term neutral. DCE iron ore January recovered most of loss created in the first half hour of this morning during the last trading hour. In short-run, MACD narrowed below 0 axis. Hourly slow stochastic KD potentially create gold cross on oversold area. CCI approached neutral area from bearish territory. Short-run technical signals were …

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Daily Virtual Steel Mill Report 17/10/22

Market Verdict on Iron Ore： • Neutral.   Macro： • The first day of Chinese National Congress stressed emphasis on real economy support, accelerating the industrialisation, manufacturing, product quality, aerospace, and digital development. • ECB official indicated that the 75 bps hike in October was appropriate. BOE indicated that interest rate should be raised to …

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