Tag archives: CC

Market Verdict on Iron Ore： • Neutral.   Macro： • EU extended sanctions on imports of products from Russia, including steel and materials. Importers are required to prove that the materials they have used are not from Russia. • The USD/CNH once reached new high at 7.24 since November 30th in 2022, because of the …

Continue reading “Daily Virtual Steel Mill Report 27/06/23”

Market Verdict on Iron Ore： • Neutral.   Macro： • U.S. PMI in June at 53.0, refreshed three month low, however maintained above 50 for five consecutive months. Iron Ore Key Indicators: • Platts62 $112.15, -0.25, MTD $112.68. Some Chinese sintered facilities suspension, following with macro change including U.S. interest hike and Chinese LPR decrease …

Continue reading “Daily Virtual Steel Mill Report 26/06/23”

Market Verdict on Iron Ore： • Neutral.   Macro： • The Presiden of Indonesia, Joko Widodo, said that his country would stop exporting refined copper, because this metal would be processed into cathode copper domestically. It is understood that Free economic zone Indonesia and Amman Mineral Internal will complete the construction of smelters next year, …

Continue reading “Daily Virtual Steel Mill Report 21/06/23”

Market Verdict on Iron Ore： • Neutral.   Macro： • China 1-year length and 5-year length Loan Prime Rate down 10 bps, previously maintained unchanged for 9 months. • China NBS: China produced 16,613 units of excavators, down 25.9% on the year. Total produced 117,524 units of excavators, down 17.8% on the year.   Iron …

Continue reading “Daily Virtual Steel Mill Report 20/06/23”

Market Verdict on Iron Ore： • Neutral.   Macro： • Christine Lagarde expected the high inflation would maintain at high level in very long times, ECB potentially increase interest rate in July. • China NBS: China exported 4.57 million tons of flat steel, up 0.7% on the year. Jan-May total exported 23.56 million tons of …

Continue reading “Daily Virtual Steel Mill Report 19/06/23”