Verdict: • Short-run Neutral. Macro: • US Federal Governor Loretta Mester indicated that it is less likely to see interest cut in or before May, however possible in June. Mester expected three interest cut in 2024. Iron Ore Key Indicators: • Platts62 $102.25, -0.25, MTD $102.38. The market saw active trade before China …
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Weekly Ferrous Analysis Report 02/04/24
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Weekly Ferrous Report 26/03/24
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Daily Virtual Steel Mill Report 26/03/24
Verdict: • Short-run Neutral. Macro: • The World Steel Association statistic indicated that total crude steel production at 148.8 million tons, up 3.7% on the year. Iron Ore Key Indicators: • Platts62 $108.80, -0.30, MTD $110.73. The MACF was traded at fixed price at $107.3 yesterday. All rest of concentrates were facing oversupply …
Daily Virtual Steel Mill Report 22/03/24
Verdict: • Short-run Neutral. Macro: • US jobless claims last week at 210,000, estimated 213,000, last 209,000. Iron Ore Key Indicators: • Platts62 $110.65, +4.15, MTD $110.96. The procurement of iron ore was majorly based on real-demand. The market participants agreed a slow demand for iron ore compared to past five years during …
Daily Virtual Steel Mill Report 20/03/24
Verdict: • Short-run Neutral to Bullish. Macro: • Bank of Japan announced an interest rise by 10bps to 0% – 0.1%. The eight-year length negative interest rate officially terminated. Iron Ore Key Indicators: • Platts62 $107.90, +2.65, MTD $111.33. The fast recovery on derivatives market as well as the return of China demand …
Daily Virtual Steel Mill Report 19/03/24
Verdict: • Short-run Neutral to Bullish. Macro: • From January to February, China’s pig iron production reached 140.73 million tons, a year-on-year decrease of 0.6%. The crude steel production was 167.96 million tons, a year-on-year increase of 1.6%; The steel production was 21.343 million tons, a year-on-year increase of 7.9%. China’s coal production above …
Daily Virtual Steel Mill Report 18/03/24
Verdict: • Short-run Neutral. Macro: • China National Statistics Bureau: China industrial value added amount above designated size up by 7% in January and February, up 0.2% from last December. • A statistic from BOE indicated that the expected inflation rate during the past three month had dropped from 3.3% to 3.0%. The long-run …
Daily Virtual Steel Mill Report 13/03/24
Verdict: • Short-run Neutral. Macro: • US Labour department statistics indicated February CPI up 0.4% on the month, up 3.2% on the year, both fell into expectations. The strong CPI indicated a stubborn inflation condition, which decreased the probability to see interest cut before June. • EIA increased daily oil production by 90,000 barrels/day, …
Weekly Ferrous Report 12/03/24
Please click below to view the report For more information please contact FIS info@freightinvestor.com London +44 (0) 207 090 1120 Singapore +65 6535 5189 Dubai + 971 4 449 3900 Shanghai: +86 21 6335 4002 US (CT): +1 203 325 8004