Daily Virtual Steel Mill Report 08/06/22

Market Verdict on Iron Ore: • Neutral.   Macro • World Bank decreased global economy growth rate by 1/3 to 2.9%. The institute indicated that the growth rate in 2023 and 2024 potentially stay on this level. • Russia is recovering oil export from the port Kozmino by 20%, to satisfy demand from Asian buyers …

A Room with a Technical View 06/06/22

Oil August Futures – Technically bullish on the last report the futures did trade above the USD 115.69 fractal resistance resulting in the USD 123.74 level being broken. The roll into the August contract resulted in a technical pullback, however price held above the USD 112.36 level supporting a bull argument. Key support remains unchanged, …