Daily Virtual Steel Mill Report 7/3/22

Market Verdict on Iron Ore: • Neutral. Macro • The weekends news about U.S. and European countries potential stop import Russian crude oils lifted NYMEX WTI price by 10% in Asian morning on Monday, WTI futures reached $130.5 as the highest of the day. • China government report mentioned expected to decrease deficit ratio from …

Iron Ore DCE May Daily Technical Review 4/3/22

Verdict – Short-term in roof area, correction risk increased. DCE iron ore May22 rebounded slightly and majorly correct most of gains back during the Asian day session. DCE iron ore created the consecutive long upper shadow, with massive decrease on open interests, indicating a temporary taking gains in roof area. Hourly MACD created dead cross. …