Tag archives: IO

Iron Ore DCE May23 Daily Technical Review 11/01/23

Verdict – Short-term neutral.   DCE iron ore May23 contract rebounded and maintained strong for the second trading day. However the strength of the rebound need to test important resistance at 856.0 level. Hourly MACD was stable above 0 axis. Hourly slow stochastic KD potentially create dead cross in overbought area. Iron ore open positions …

Continue reading “Iron Ore DCE May23 Daily Technical Review 11/01/23”

Daily Virtual Steel Mill Report 11/01/22

Market Verdict on Iron Ore： • Neutral.   Macro: • China PBOC statistic indicated that December M2 up 11.8%, up 2.8% on the year, lower than 12.4% in November.   Iron Ore Key Indicators: • Platts62 $118.70, -1.10, MTD $118.07.Seaborne saw the most active trade in January yesterday. IOCJ traded at $137.2. MACF traded at …

Continue reading “Daily Virtual Steel Mill Report 11/01/22”

Iron Ore DCE May23 Daily Technical Review 10/01/22

Verdict – Short-term neutral. DCE iron ore May23 contract recovered partial loss created by yesterday and brought the trend back to consolidation in short-run. Hourly MACD entered a bullish territory. Similarly, hourly CCI approached bullish territory. Hourly candles created a important gap from 823.5-826.5, which potentially become a support in short-run. The first support is …

Continue reading “Iron Ore DCE May23 Daily Technical Review 10/01/22”

Daily Virtual Steel Mill Report 10/01/22

Market Verdict on Iron Ore： • Neutral to bearish.   Macro： • ECB announced that the strong EU salaries increase would become important factor to support interest hike. • U.S. Atlantic Federal president Raphael Bostic predicted a 1% economy growth in U.S. in 2023 instead of recession. Bostic believed that inflation rate potentially drop to …

Continue reading “Daily Virtual Steel Mill Report 10/01/22”