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 …
Tag archives: CC
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 …
Daily Virtual Steel Mill Report 24/08/23
Verdict: • Short-run Neutral. Macro: • S&P indicated that the U.S. Service PMI in August at 51.0, refreshed the slowest increase since February. Manufacturing PMI in August at 47.0, down from 49.0 in July, created a four consecutive month drop. Iron Ore Key Indicators: • Platts62 $116.50, +3.20, MTD $107.06. BHP narrowed JMBF discount …
Daily Virtual Steel Mill Report 23/08/23
Verdict: • Short-run Neutral. Macro: • A package of preferential tax policies to support healthy development of capital market is released by China, aiming to reduce tax burdens over enterprises and individuals. Iron Ore Key Indicators: • Platts62 $113.30, +2.95, MTD $106.43. The high production of steels, low port inventories and deliveries are …
FIS Ferrous Weekly Report 21/08/23
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 22/08/23
Verdict: • Short-run Neutral. Macro: • The unchanged 5-year LPR versus 10 bps decrease on 10-year LPR indicated a limited liquidity of China commercial banks. However commercial banks need to maintain the resilience of liquidity supply to real entities. The market expect more rate cuts in the following months in H2. Iron Ore …
Daily Virtual Steel Mill Report 21/08/23
Verdict: • Short-run Neutral. Macro: • Beijing planned to allow local governments to sell 1.5 trillion yuan of special bounds to repay debts. Banks cut key lending rates by 15 bps this week. Iron Ore Key Indicators: • Platts62 $109.35, +0.55, MTD $105.60. The traders were concerning about the fast uptick on low …
FIS Ferrous Weekly Report 08/08/23
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 04/08/23
Macro: • BOE hiked interest rate by 25bps to 5.25%, which was the 14th interest hike since December 2021. Iron Ore Key Indicators: • Platts62 $103.75, -3.20, MTD $106.75. The seaborne trade was light this week. However Fe60.5% JMBF discount narrowed from $4.4 to $3.95. The steel margin recovery potentially support the resilient demand …