Daily Virtual Steel Mill Report 16/11/23

Verdict: • Short-run Neutral to Bearish.   Macro: • US PPI up 1.3% in October, lower than estimated 1.9%, last 2.2%. • China NDRC pricing department started co-working with DCE to research on the monitoring irregular movement of iron ore. Iron ore margin in exchange level raised from 13% to 15% in DCE effective after …