Category archives: News

Daily Virtual Steel Mill Report 17/3/22

Market Verdict on Iron Ore： • Neutral to bullish. Macro • As expected, the Federal Open Market Committee (FOMC) of the Federal Reserve raised the federal benchmark interest rate range by 25 basis points to 0.25% – 0.50%, the first interest rate increase since December 2018. Fed officials expect interest rates to reach 1.9% by …

Continue reading “Daily Virtual Steel Mill Report 17/3/22”

Daily Capesize Review 16/3/22

Capesize freight rates coughed the gains made recently, following the selloff sessions, amid the volatile market. The Capesize 5 time charter average, then dropped by $1,583 day-on-day to $21,830 on Wednesday, after market selloff in the afternoon session. The Baltic Dry Index (BDI) then decreased by $98 day-on-day, or down 3.64% day-on-day, to $2,591, due …

Continue reading “Daily Capesize Review 16/3/22”