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Tag archives: IO
Iron Ore Offshore Feb 24 Morning Technical Comment – 240 Min Chart 11/01/24
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Iron Ore DCE May24 Daily Technical Review 11/01/24
Verdict- Neutral. DCE May24 contract reversed from periodic low at 952.5 created last night. Hourly MACD narrowed. Hourly slow stochastic KD rebounded fast after created gold cross in oversold area. Hourly CCI entered neutral area. The next resistance level at 990.0 potentially provide some pressure as price used to stay at this level for two …
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Daily Virtual Steel Mill Report 11/01/24
Verdict: • Short-run Neutral. Macro: • The unexpected EIA report on the increasing oil inventories dragged down oil price by $1 overnight. Iron Ore Key Indicators: • Platts62 $139.10, -0.30, MTD $141.53. The prompt demand was weak given a decreasing pig iron production, when mills started maintenance. The demand for February laycans was …
London Iron Ore Market Report 10/01/24
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Iron Ore Market Daily Report 10/01/24
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Iron Ore Offshore Feb 24 Morning Technical Comment – 240 Min Chart 10/01/24
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Iron Ore DCE May24 Daily Technical Review 10/01/24
Verdict- Neutral to Bearish. DCE May24 contract corrected as expected. Hourly MACD widened in bearish territory. Hourly CCI entered bearish territory. Iron ore broke important support at 969.0 with expand volume and loss on open interest. Iron ore potentially test low in next few sessions. First support 915.0. First resistance 969.0.
Daily Virtual Steel Mill Report 10/01/24
Verdict: • Short-run Bearish. Macro: • Rio Tinto started the world’s biggest mining project, Simandou Project, estimated to see the first delivery in 2025. The project estimated to produce 60 million tons of iron ore, accounted for 5% of total seaborne market. • World Bank published global economic outlook, estimated global GDP up 2.4%, …
London Iron Ore Market Report 09/01/24
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