Verdict: • Short-run Neutral to Bullish. Macro: • The US Energy Information Agency (EIA) has lowered its global oil demand growth forecast for 2024 by 480,000 barrels per day to 950,000 barrels per day. The institution has also lowered its forecast for oil demand growth in 2025 by 30,000 barrels per day to 1.35 …
Tag archives: CC
Weekly Ferrous Analysis Report 09/04/24
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
Daily Virtual Steel Mill Report 09/04/24
Verdict: • Short-run Neutral to Bullish. Macro: • Recently, many regions in China have introduced policies to optimize housing provident fund. The loan amount for purchasing green construction or low-energy related building increased by 400,000 yuan to 1.6 million yuan. Guangzhou increases the maximum amount of provident fund loans. Iron Ore Key Indicators: …
Daily Virtual Steel Mill Report 08/04/24
Verdict: • Short-run Neutral. Macro: • The employment growth in the US in March far exceeded expectations, and wages steadily increased, indicating a stable economic performance at the end of the first quarter, which may cause the Federal Reserve to delay the expected interest rate cut. The highly anticipated employment report on Friday also …
Daily Virtual Steel Mill Report 03/04/24
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 …
Weekly Ferrous Analysis Report 02/04/24
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\A
Weekly Ferrous Report 26/03/24
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\ A
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 …