Daily Virtual Steel Mill Report 14/09/23

Verdict: • Short-run Neutral.   Macro: • US August CPI up 3.7%, higher than expected 3.6%, last 3.2%. Core CPI up 4.3%, est. 4.3%, last 4.7%. • Europe Union will launch a probe of EV subsidies against China.   Iron Ore Key Indicators: • Platts62 $122.60, +1.95, MTD $119.21. The mid-grade saw massive fixed trade …

Daily Virtual Steel Mill Report 13/09/23

Verdict: • Short-run Neutral.   Macro: • BOE indicated that the inflation target of 2% was approachable in two years. • OPEC monthly report indicated that the crude oil shortage reached 3 million barrels/day due to the extension production cut by Saudi Arab. Iron Ore Key Indicators: • Platts62 $122.60, +1.95, MTD $119.21. Although the …

Daily Virtual Steel Mill Report 12/09/23

Verdict: • Short-run Neutral to bullish.   Macro: • ECB predicted Euro Zone GDP growth by 0.8% in 2023 on the year, up 1.3% in 2024, lower than expected 1.1% and 1.6% respectively from last time.   Iron Ore Key Indicators: • Platts62 $120.65, +3.85, MTD $118.65. Although the primary market of seaborne iron ore …

Daily Virtual Steel Mill Report 11/09/23

Verdict: • Short-run Neutral.   Macro: • China Newspaper saw credit growth rebound in August, when policy makers are likely to use RRR cuts and other financial tools to flexibly maintain at low cost funding to the banking system. • Guangzhou, China scrapped price limit on new homes by decreasing the mortgage rate at Loan …

Daily Virtual Steel Mill Report 08/09/23

Verdict: • Short-run Neutral to Bearish.   Macro: • US jobless claims reached 216,000, est. 234,000, last 228,000. • Some southern cities, including the biggest city in the south, Guangzhou, China was suffering from heavy rain and floods. HKEX closed on Friday because of the extreme weather.   Iron Ore Key Indicators: • Platts62 $117.70, …

Daily Virtual Steel Mill Report 07/09/23

Verdict: • Short-run Neutral.   Macro: • China engaged to initiate discussion with ASEAN countries in fields of NEVs and photovoltaics areas. • The US Beige book indicated that the economy and job growth rates potentially slow down in July and August. Many enterprises expected a slow down on salaries growth.   Iron Ore Key …

Daily Virtual Steel Mill Report 06/09/23

Verdict: • Short-run Neutral.   Macro: • Saudi Arab and Russia extend the crude oil production curb. Saudi Arab would decrease 1 million barrels/day in the coming three months. Russia would decrease 300,000 barrels/day till the end of 2023. • The US federal governor Christopher Waller saild the policymakers can afford to skip interest hike. …

Daily Virtual Steel Mill Report 05/09/23

Verdict: • Short-run Neutral.   Macro: • The ECB indicated that the Euro zone was in a high inflation mode and urged to bring inflation rate back to 2%. • The Chinese government has laid out a work plan to maintain steady growth for its automotive industry during 2023-24, expecting a 3% sales growth in …

Ferrous Weekly Report 29/08/23

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″][pdf-embedder url=”https://fisapp.com/wp-content/uploads/2023/07/Americas-Bunker-Fuel-Market-Update-13-07-23-003-1.pdf” title=”Americas Bunker Fuel …

Daily Virtual Steel Mill Report 25/08/23

Verdict: • Short-run Neutral.   Macro: • WTO indicated that the global trade should recover gradually in Q2 2023, and should stablise in Q3. The 1.7% growth rate of world trade in 2023 is approachable. • The U.S. jobless claims last week reached 230,000, est. 240,000, last 239,000.   Iron Ore Key Indicators: • Platts62 …