Tag archives: IO

Daily Virtual Steel Mill Report 23/05/24

Verdict: • Short-run Neutral.   Macro: • On May 23rd, the China National Development and Reform Commission, the Central Bank, and other four departments mentioned promoting stable and moderate reductions in loan interest rates, optimizing tax and fee preferential policies, implementing structural tax reduction and fee reduction policies and strengthening scientific and technological innovation. Appropriately …

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Iron Ore DCE Sep24 Daily Technical Review 22/05/24

Verdict- Neutral. DCE Sep24 rebounded during the trading day and approached area below several highs of the year. The contract saw listed high at 942.0 yuan, second high at 930.0 yuan and intraday high at 925.0. Hourly MACD expanded in bullish territory. Hourly CCI entered bullish territory. Be aware of market reversal risk before iron …

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Daily Virtual Steel Mill Report 22/05/24

Verdict: • Short-run Neutral.   Macro: • China NBS: In April, China’s crude steel production was 85.943 million tons, a year-on-year decrease of 7.2%. Crude steel production from January to April was 34.3672 million tons, a year-on-year decrease of 3.0%. China’s iron ore production reached 87.904 million tons, a year-on-year increase of 11.5%. The cumulative …

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