Tag archives: IO

Iron Ore DCE May23 Daily Technical Review 08/02/22

Verdict – Short-term neutral. DCE iron ore May23 contract tested low, however supported by 828.5, indicating the support area from 828.5- 834.0 was significant. Hourly MACD narrowed movement, with a lower high and higher low. Technical signals were indicating the decrease of the daily range. A breakdown on 828.5 in future would trigger a big …

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Daily Virtual Steel Mill Report 08/02/22

Market Verdict on Iron Ore： • Neutral.   Macro: • The U.S. Federal president Jerome Powell indicated that if inflation maintained stronger than expectation, federal would consider to extend interest hike to 2024 to reach the target level at 2%.   Iron Ore Key Indicators: • Platts62 $121.70, -2.35, MTD $124.77. BHP sold JMBF at …

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Iron Ore DCE May23 Daily Technical Review 07/02/22

Verdict – Short-term neutral to bearish. DCE iron ore May23 contract broke import short-run support at 834.5 during the day session, however recovered some loss. Hourly MACD flattened. Hourly slow stochastic KD flattened. A further breakdown on 828.5 would bring market to mid-run bearish. The first support is 828.5. The first resistance is 858.0  

Daily Virtual Steel Mill Report 02/07/22

Market Verdict on Iron Ore： • Neutral to bearish.   Macro: • China state council outlined a quality improvement in “Chinese Brand”, including upgrading qualities in steels, glasses, ceramics, promoting green steels. • Bloomberg: U.S. planned 200% tariff on Russia Aluminum as soon as this week.   Iron Ore Key Indicators: • Platts62 $124.05, -2.20, …

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