Tag archives: CC

Verdict: • Short-run Neutral to Bearish.   Macro: • BOE central banker Andrew Baily indicated the policymakers potentially support interest cut even without reaching the 2% inflation rate target.   Iron Ore Key Indicators: • Platts62 $121.95, -6.85, MTD $128.25. Iron ore saw a stable supply in Q1 from both Brazil and Australia, seeing all …

Continue reading “Daily Virtual Steel Mill Report 21/02/24”

Verdict: • Short-run Neutral.   Macro: • The Research Institute Beike, which was the subsidiary of the biggest China house agency, indicated that Tier I house sales down 3% on the year during Chinese New Year. Tier II sales up 98% on the year. Tier III house sales up 65% on the year.   Iron …

Continue reading “Daily Virtual Steel Mill Report 19/02/24”

Verdict: • Short-run Neutral.   Macro: • In 2023, the domestic production of the top three coal producers worldwide all reached historic highs. China’s coal production reached 4.66 billion tons, a year-on-year increase of 2.9%. In 2023, India’s coal production reached 1.011 billion tons, a year-on-year increase of 10.9%. Indonesia’s coal production reached a historic …

Continue reading “Daily Virtual Steel Mill Report 07/02/24”

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 …

Continue reading “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 …

Continue reading “Daily Virtual Steel Mill Report 06/02/24”

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 …

Continue reading “Daily Virtual Steel Mill Report 02/02/24”

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 …

Continue reading “Daily Virtual Steel Mill Report 01/02/24”