Tag archives: IO

Daily Virtual Steel Mill Report 28/07/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro • U.S. Federal increased 75 basis points in last FOMC to 2.25-2.5%, as expected. • G7 revealed to set up a price-ceiling for Russian oil effective from December 5th.   Iron Ore Key Indicators • Platts62 $111.05, -0.65, MTD $106.24. The term contract discounts …

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Rio Tinto Inks Deal For Guinea iron ore project 28/07/22

Rio Tinto Inks Deal to Unlock Huge Simandou Iron Ore Project   Rio Tinto Group said it’s formed a joint venture with the Guinea government and Winning Consortium Simandou to develop infrastructure including a railway and port, in a breakthrough that should help unlock the world’s biggest untapped iron ore deposit. “The parties will now …

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Iron Ore DCE September Daily Technical Review 27/07/22

Verdict – Short-term neutral.   DCE iron ore September failed to break through the concentrated trading level around 750.0 by closing. Thus, iron ore potentially reached periodic high area. Slow stochastic KD created dead cross in overbought area and deepened correction. Hourly CCI created bearish divergence. Hourly MACD potentially creating dead cross. Technical signals were …

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Daily Virtual Steel Mill Report 27/07/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro • IMF decreased global GDP growth in 2022 from 3.6% to 3.2%. • U.S. white house indicated that the country would release 20 million barrels of crude oil supply from its national reserve, 1 million barrels on daily basis. • Chinese Machinery Association statistic …

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Iron Ore DCE September Daily Technical Review 26/07/22

Verdict – Short-term neutral to bullish.   DCE iron ore September maintained strong as expected. Hourly MACD widened above 0 axis. Hourly CCI stayed in bullish territory. Iron ore hourly candles rebounded following a ladder shaped ascending structure. Short-run technical signals were indicating continuing rebound.   The first support is 703.5. The first resistance is …

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