🔹 Market Overview

Last night’s trading session was dominated by a surge in energy commodities following the escalation of conflict in the Middle East.
Crude oil soared, with most energy and chemical-related futures posting gains of over 3%.
Precious metals such as silver hit new highs, and agricultural commodities also saw broad gains.
However, the ferrous complex (black series) underperformed — showing muted response and limited upward momentum.

🔹 Raw Material Breakdown

  • Coking Coal:
    Likely to maintain a bullish bias under crude oil’s influence.
    • Resistance: 810
    • Support: 755
      A breakout above 810 may open room toward 850.
  • Iron Ore:
    Yesterday’s price action suggests a potential breakdown.
    Some signs point to institutional short testing.
    If the price falls below 690, the next key support lies around 670.

🔹 Finished Steel

Market remains range-bound, with hot-rolled coil stronger than rebar (HRC > RB).
That said, any strength in coking coal is likely to be offset by weakness in iron ore, keeping upside in check.

🔸 Strategy Guidance

Our core strategy remains unchanged —
Continue to sell into strength near the upper edge of the trading range.
This environment favors short setups rather than chasing long positions.

📌 Daily insights provided by LangZo Steel. For reprints, please credit LangZo Steel.