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[IO Technicals Weekly 2025/10]: Bearish Signals Deepen in IO Amid China’s Steel Production Cuts
221 Views11 Mar 2025 08:11
SUMMARY
- Iron ore futures declined by USD 1.75/ton last week, closing at USD 100.45/ton on March 7, trading within a narrower USD 3.90/ton range.
- Technical indicators confirm bearish momentum, with a death cross, MACD signaling weakness, and RSI nearing oversold conditions at 36.61.
- Market sentiment remains fragile due to China’s steel production cuts, declining imports, and escalating U.S.-China trade tensions, despite potential stimulus measures.
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