Tag archives: IO

Iron Ore DCE Sep24 Daily Technical Review 21/05/24

Verdict- Neutral. DCE Sep24 rebounded during last half hour with growing open interest. Hourly MACD narrowed in bullish territory. The hike was believed as testing pressure on 906.0 level. If iron ore stand on 906.0, the price expected to strengthen. Otherwise iron ore potentially consolidate in the old range between 870.0 – 906.0 again. First …

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Daily Virtual Steel Mill Report 21/05/24

Verdict: • Short-run Neutral.   Macro: • BOE’s Broadbent said UK interest rate may drop this summer. • Chinese builder Vanke took on more loans with 1.2 billion yuan deal.   Iron Ore Key Indicators: • Platts62 $118.50, +0.50, MTD $117.02. The fast depleting on IOCJ supported the high grade price. In general, MB65- P62 …

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Iron Ore DCE Sep24 Daily Technical Review 20/05/24

Verdict- Neutral. DCE Sep24 refreshed 4-months high at 906.0 and corrected sooner after that. Hourly slow stochastic KD created dead cross near the boundary of bullish area and corrected. Hourly CCI dropped from bullish territory to neutral area. Iron ore would supported by 878.5 and also see heavy resistance at 906.0. First support 878.5. First …

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Daily Virtual Steel Mill Report 20/05/24

Verdict: • Short-run Neutral.   Macro: • The United Nations has released the “2024 World Economic Situation and Outlook” report, which shows that compared to January 2024, the United Nations is more optimistic about the world economic outlook and has raised its global economic growth forecast for this year from 2.4% at the beginning of …

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