Tag archives: CC

Market Verdict on Iron Ore： • Neutral.   Macro： • China BO’AO Asian Forum expected Asian countries potentially contribute a 4.5% GDP growth in 2023.   Iron Ore Key Indicators: • Platts62 $123.7, +2.05, MTD $127.10. The iron ore market was back to normal as the risk appetite shift back. Physical trades on both float …

Continue reading “Daily Virtual Steel Mill Report 29/03/22”

Market Verdict on Iron Ore： • Neutral.   Macro： • China Jan-Feb industrial net income above designated scale reached 887.21 billion yuan, down 22.9% on the year • U.S. Insurance company FDIC said that First Citizens Bank & Trust Co. would take over all deposits and loans from Silicon Valley Bank (SVB), which may ease …

Continue reading “Daily Virtual Steel Mill Report 28/03/22”

Market Verdict on Iron Ore： • Neutral.   Macro： • U.S. Market Manufacturing PMI at 49.3, refreshed the highest since October 2022, est. 47, last 47.3. • China central bank PBOC officially cut RRR by 25 bps on March 27th, equivalent to 600 billion yuan of mid-term liquidity.   Iron Ore Key Indicators: • Platts62 …

Continue reading “Daily Virtual Steel Mill Report 27/03/22”

Market Verdict on Iron Ore： • Neutral.   Macro： • The Bank of England announced a 25 basis point increase in its benchmark interest rate to 4.25%, in line with market expectations. This is the 11th consecutive interest rate hike by the Bank of England since December 2021. The Bank of England said signs of …

Continue reading “Daily Virtual Steel Mill Report 24/03/22”

Market Verdict on Iron Ore： • Neutral to Bearish.   Macro： • U.S. Federal hiked 25 bps interest rate to reach 4.75- 5%, as expected from Fed tools. The market expected a interest decrease before the end of 2023 to stimulate economy growth. • U.S. lowered GDP growth rate to 0.4% in 2023, previously estimated …

Continue reading “Daily Virtual Steel Mill Report 23/03/22”