Tag archives: IO

Iron Ore DCE May24 Daily Technical Review 22/02/24

Verdict- Neutral to Bearish. DCE May24 contract closed 50 cents higher than yesterday. Hourly MACD narrowed in bearish territory. Hourly slow stochastic KD left oversold area to neutral area. Iron ore saw a decrease on trading volume and a doji on daily candle, indicating a potential exhaustion on previous trend. However iron ore was still …

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Daily Virtual Steel Mill Report 22/02/24

Verdict: • Short-run Neutral to Bearish.   Macro: • According to data from the China Association of Automobile Manufacturers, in January, the production and sales of commercial vehicles reached 327,000 and 324,000 respectively, a decrease of 10.7% and 11.1% month on month, and a year-on-year increase of 66.2% and 79.6%, respectively.   Iron Ore Key …

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Daily Virtual Steel Mill Report 21/02/24

Verdict: • Short-run Neutral to Bearish.   Macro: • BOE central banker Andrew Baily indicated the policymakers potentially support interest cut even without reaching the 2% inflation rate target.   Iron Ore Key Indicators: • Platts62 $121.95, -6.85, MTD $128.25. Iron ore saw a stable supply in Q1 from both Brazil and Australia, seeing all …

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