Daily Virtual Steel Mill Report 15/09/23

Verdict: • Short-run Neutral to Bullish.   Macro: • China announced reserve requirement ratio cut by 0.25% to consolidate the foundation for economy recovery. The reduction is the second RRR cut during 2023, expected to release over 500 billion yuan in medium liquidity.   Iron Ore Key Indicators: • Platts62 $123.95, +1.45, MTD $120.11. The …

Daily Virtual Steel Mill Report 14/09/23

Verdict: • Short-run Neutral.   Macro: • US August CPI up 3.7%, higher than expected 3.6%, last 3.2%. Core CPI up 4.3%, est. 4.3%, last 4.7%. • Europe Union will launch a probe of EV subsidies against China.   Iron Ore Key Indicators: • Platts62 $122.60, +1.95, MTD $119.21. The mid-grade saw massive fixed trade …