Daily Virtual Steel Mill Report 31/05/22

Market Verdict on Iron Ore: • Neutral.   Macro: • China official manufacturing PMI 48.8, est. 49.5, last 49.2. • Fedwatch tools indicated that the probability of 25bps interest hike in June reached 63%.   Iron Ore Key Indicators: • Platts62 $102.65, -1.80, MTD $105.16. The mid-grade interests dominate seaborne market yesterday. BHP sold fixed …

Daily Virtual Steel Mill Report 30/05/22

Market Verdict on Iron Ore: • Neutral.   Macro: • Market expected that the new emerging potentially start interest cut this year.   Iron Ore Key Indicators: • Platts62 $104.45, +2.00, MTD $105.29. The seaborne inquiries became active because of the recovery of import margins. MACF traded at $100.7, increased by near $7 compared to …

Daily Virtual Steel Mill Report 29/05/22

Market Verdict on Iron Ore: • Neutral.   Macro: • US House Speaker Kevin McCarthy stated that the White House and Republican have reached an agreement in principle on the debt ceiling. • From January to April, China industrial enterprises value added amount down 20.6% on the year.   Iron Ore Key Indicators: • Platts62 …