[IO Technicals Weekly 2025/5] IO Rally Amid Supply Disruptions and Lunar New Year Impact

258 Views03 Feb 2025 22:55

SUMMARY

SGX IO Futures closed at $105.75/ton on Jan 31, gaining $0.90/ton over the week, with a high of $106.85/ton and a low of $103.50/ton.
A golden cross formation on Jan 17 signaled a bullish trend, while RSI at 64.97 suggests a possible overbought condition.
Prices remained in triple digits due to U.S. tariff uncertainties, reduced steel mill capacity, Lunar New Year closures, and weather-related supply disruptions in Australia’s Pilbara region.

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[IO Technicals Weekly 2025/​​5] IO Rally Amid Supply Disruptions and Lunar New Year Impact