Tag archives: CC

Daily Virtual Steel Mill Report 06/02/24

Verdict: • Short-run Bearish.   Macro: • The OECD increased the global GDP growth rate from 2.7% to 2.9%. • The IMF estimated that the growth rate of China in 2024 expected to increase by 4.6%.   Iron Ore Key Indicators: • Platts62 $127.20, -0.80, MTD $129.33. Iron ore market suffered correction following the correction …

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Daily Virtual Steel Mill Report 06/02/24

Verdict: • Short-run Neutral.   Macro: • The UN statistics indicated that thee ships passed by Suez Cannel down 42% during the past two months. • The IMF estimated that the growth rate of China in 2024 expected to increase by 4.6%.   Iron Ore Key Indicators: • Platts62 $128.00, -4.80, MTD $130.40. Iron ore …

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Daily Virtual Steel Mill Report 02/02/24

Verdict: • Short-run Neutral to Bearish.   Macro: • US jobless claim reached 224,000, refreshed new high since the week consecutive on November 11th in 2023, est. 212,000, last 214,000. • BOE maintained unchanged interest rate at 5.25%, as expected from the market. The bankers indicated a interest rate cut would happen only if the …

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Daily Virtual Steel Mill Report 01/02/24

Verdict: • Short-run Neutral to Bearish.   Macro: • The FOMC indicated an unchanged interest rate at 5.25%- 5.5%, fell into previous expectation. The US Federal believed the interest cut is inappropriate before the inflation rate reached the target area. • The manufacturing PMI reached 49.2%, up 0.2% on the month, indicating a recovery of …

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Daily Virtual Steel Mill Report 25/01/24

Verdict: • Short-run Neutral.   Macro: • OECD published reports that the global crude steel production reached 2.499 billion tons in 2023, up 57.1 million tons on the year, or 2.3%, up 91.6 million tons from 2019. • Eurozone January Manufacturing PMI reached 46.6, created 10-year-high, estimated 44.8, last 44.4.   Iron Ore Key Indicators: …

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Daily Virtual Steel Mill Report 24/01/24

Verdict: • Short-run Neutral.   Macro: • The Bank of Japan announced that it will maintain its current monetary policy unchanged and continue to adhere to the inflation control target of 2%. The Bank of Japan kept the short-term interest rate at negative 0.1% and kept the long-term interest rate at zero by purchasing long-term …

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