Tag archives: IO

Daily Virtual Steel Mill Report 02/09/22

Market Verdict on Iron Ore： • Neutral.   Macro • Eurozone 19 countries August PMI decreased from 49.8 to 49.6, indicating the high energy cost and consumer price lower the demand. Germany and Italy PMI refreshed 26-months low.   Iron Ore Key Indicators: • Platts62 $95.6, -5.35, AVG $95.6. PBF and NMHG regained popularity, with …

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Iron Ore DCE January Daily Technical Review 01/09/22

Verdict – Short-term neutral.   DCE iron ore January contract corrected signficantly, however luckily supported by 672.0 level. A breakdown on 672.0 level would indicate an entrance to bearish phase. Otherwise iron ore potentially maintain rangebounds from 672.0 – 700.0. Hourly CCI created the lowest since July 17th. Hourly MACD maintained in bearish territory since …

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Daily Virtual Steel Mill Report 01/09/22

Market Verdict on Iron Ore： • Neutral.   Macro • Eurozon August CPI up 9.1% on the year, refreshed historical high, est. 9%, last 8.9%. • The number of U.S. ADP in August was 132,000, much less than expected 300,000.   Iron Ore Key Indicators: • Platts62 $100.95, +3.35, AUG AVG $104.76. PBF and NMHG …

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Iron Ore DCE January Daily Technical Review 31/08/22

Verdict – Short-term neutral.   DCE iron ore January contract tested low and recovered some loss as expected from last report. Iron ore closed at same level with yesterday. Hourly MACD narrowed below 0 axis. Hourly CCI created bullish divergence with candles. The last four candles proved a consolidation pattern, the four lows fell into …

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