Category archives: News

Daily Virtual Steel Mill Report 11/10/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro • Chicago Federal official Charles Evans indicated that extra supply-chain interactions were not an issue when the unemployment rate was around the same low level in 2019, with less inflationary impact. Evans believed that if this steeper-than-usual Phillips curve is generating much of the …

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South African Kumba Iron Ore Delivery Distrupted On Rail Issue 11/10/22

S African Kumba iron ore volumes may fall on rail issue   South African logistic utility Transnet’s force majeure declaration has disrupted shipments from UK-South African miner Anglo American’s Kumba iron ore operations in South Africa.   Kumba received a notice of force majeure from Transnet on 7 October because of strike action by Transnet’s …

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A Room with a Technical View 10/10/22

Capesize November Futures – The technical was bullish neutral last week, having held fractal support at USD 14,750. The futures had been moving higher, supported by an oversold stochastic alongside a neutral RSI; we highlighted key resistance at USD 18,917. Upside moves that failed at or below this level would leave the futures vulnerable to …

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