Daily Virtual Steel Mill Report 08/07/24

Verdict: • Short-run Neutral.   Macro: • US non-agricultural payroll grew 206,000, estimated 190,000, last 272,000. The unexpected unemployment rate reached 4.1%, refreshed new high from June 2021. • The new-built commercial houses trades in area created new high in 2024 for Beijing, Shanghai, Guangzhou and Shenzhen in June, grew by 21%, 66%, 48% and …