Tag archives: CC

Daily Virtual Steel Mill Report 29/11/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro: • China CSRC spokesman supported the refinancing function of properties and related listed companies. • China NBS: China industrial valued added amount above designated scale reached 6.98 trillion yuan from January to October, down 3% on the year. The ferrous metallurgical industries down 92.7% …

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A Room with a Technical View 28/11/22

Capesize Dec Futures – Technically bearish last week, the divergence with the RSI warned that we had the potential to see a momentum slow down soon. The futures moved higher, above the USD 10,604 and USD 11,675 resistance levels, meaning we are now in bullish territory. Downside moves that hold at or above USD 9,842 …

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Daily Virtual Steel Mill Report 28/11/22

Market Verdict on Iron Ore： • Neutral.   Macro: • German Prime Minister Olaf Scholtz insisted on the ban on Russian oil at the end of this year. The German government plans to levy a profit tax of up to 33% on traditional fossil energy companies such as natural gas, oil and coal. • China …

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Daily Virtual Steel Mill Report 25/11/22

Market Verdict on Iron Ore： • Neutral.   Macro: • ECB indicated at the monetary conference that the bank would consider to “pause” QT if see serious economy recession in long-run.   Iron Ore Key Indicators: • Platts62 $95.20, +1.00, MTD $91.42. The seaborne market saw less bids although macro environment recovered during last two …

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Daily Virtual Steel Mill Report 24/11/22

Market Verdict on Iron Ore： • Neutral.   Macro: • China State Council proposed to increase financial support for the real economy, appropriately use monetary policy tools such as reserve ratio reduction in due time, and maintain sufficient liquidity. The meeting stressed that it is necessary to promote major projects to speed up capital payment …

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Daily Virtual Steel Mill Report 23/11/22

Market Verdict on Iron Ore： • Neutral.   Macro: • OECD predicted that the global economy growth rate could slow down from 3.1% to 2.2% in 2023. • ECB officer Holzmann supported the interest hike of 75 bps in December.   Iron Ore Key Indicators: • Platts62 $94.20, -2.05, MTD $91.18.The seaborne market saw less …

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