Daily Virtual Steel Mill Report 22/01/24

Verdict: • Short-run Neutral to Bearish.   Macro: • US existing home sales decline to historical worst since 1995, contract closings decreased by 1% from a month earlier to a 3.78 million annualised rate. • US January inflation rate reached 2.9%, refreshed the lowest since 2020.   Iron Ore Key Indicators: • Platts62 $130.55, -0.50, …