Daily Virtual Steel Mill Report 02/01/24

Verdict: • Short-run Neutral.   Macro: • China December Manufacturing PMI 49.0, est. 49.5, last 49.4. Non-Manufacturing PMI 50.4, est. 50.5, last 50.2.   Iron Ore Key Indicators: • Platts62 $140.50, +1.60, MTD $136.37. Steel mills maintained low inventory levels during past week due to low steel margin. FMG widened the discounts for term contracts …