[IO Technicals 2025/21] Bullish Momentum to Persist

342 Views23 May 2025 17:04

SUMMARY

Disappointing industrial production and consumer spending data from China, along with stagnant new housing prices, dampened investor sentiment.
Steel consumption remains robust even amid China’s property sector woes, as elevated mill activity and profitability at 60% of blast-furnace plants highlight the market’s core strength.
On the technical front, current prices remain above the 21-day and 50-day moving averages, suggesting a positive short-to-mid-term trend.

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