Verdict: • Short-run Neutral. Macro: • EIA statistics indicated that US crude oil production reached 13.3 million barrels/day, refreshed historical high. • UK CPI in November down 0.2% on the month, created the first negative number since July. Iron Ore Key Indicators: • Platts62 $134.95, +1.15, MTD $134.80. Seaborne market regained popularity after …
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Daily Virtual Steel Mill Report 20/12/23
Verdict: • Short-run Neutral. Macro: • The Eurozone November CPI reached – 0.6% on the month, refreshed the biggest monthly drop since January 2020. • The situation in the Red Sea lift concerns from traders, WTI continued its upward trend and once rose by more than 2%. The world’s biggest shipping companies said container …
Daily Virtual Steel Mill Report 19/12/23
Verdict: • Short-run Neutral. Macro: • The US Federal Governor Mary Daly indicated that a rate cut in 2024 would be appropriate. A total three cut in 2024 should be necessary. • European Central Bank Council member said that the market expectations for an interest rate cut in next March or April are too …
Coking Coal Report 18/12/23
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 7-23.pdf” title=”Europe Africa Bunker Fuel Market Update 06-07-23″]
Daily Virtual Steel Mill Report 18/12/23
Verdict: • Short-run Neutral. Macro: • The New York Federal governor John Williams said: “We are not really talking about cutting interest rates right now.” He said of the issue of interest rate cuts: “I just think it is too early to think about it.” U.S. interest rate futures responded with a sudden drop …
Daily Virtual Steel Mill Report 15/12/23
Verdict: • Short-run Neutral. Macro: • Beijing and Shanghai are optimising real estate market policies. Beijing has decreased the down payment ratio to 30% for the first home puchase, and the 40% for the second home purchase. House loans cycle rise from 25 years to 30 years. The lower limit of the interest rate …
Ferrous Weekly Report 12/12/23
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 7-23.pdf” title=”Europe Africa Bunker Fuel Market Update 06-07-23″]
Daily Virtual Steel Mill Report 12/12/23
Verdict: • Short-run Neutral. Macro: • The China Automobile Association said that in November, automobile production and sales completed 3.093 million units and 2.97 million units respectively, an increase of 7% and 4.1% month-on-month, and a year-on-year increase of 29.4% and 27.4% respectively. The Association expected that automobile production and sales would hit record …
Daily Virtual Steel Mill Report 11/12/23
Verdict: • Short-run Neutral. Macro: • According to China NBS, China CPI in November down 0.5% on the year. PPI down 3% on the year. The decrease on both statistics are lower than expected. • The US non-farm payroll increased by 199,000 in November, with an estimated increase of 183,000, compared to a previous …
Daily Virtual Steel Mill Report 08/12/23
Verdict: • Short-run Neutral. Macro: • China imported 102.74 million tons of iron ore, up 3.36 million tons on the month, or 3.4%. The first 11 months in 2023 imported 1.078 trillion tons of iron ore, up 6.2% on the year. • China imported 43.506 million tons of coals, up 7.514 million tons on …