Tag archives: CC

Daily Virtual Steel Mill Report 21/11/22

Market Verdict on Iron Ore： • Neutral.   Macro: • Multiple Chinese departments indicated that to support housing development and resolve financing and restructures. • U.S. houses sales decreased for nine month consecutively, however house price up 128 months consecutively. The 30-year mortgage rate reached 20-year-high.   Iron Ore Key Indicators: • Platts62 $96.25, -2.85, …

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A Room with a Technical View 21/11/22

Capesize Dec Futures – The trend remains bearish, having traded down to the 100% projection level at USD 8,500 (low USD 8,525). We remain below all key moving averages supported by the RSI below 50; however, the RSI is now in divergence with price, warning that we have the potential to see a momentum slow …

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Daily Virtual Steel Mill Report 21/11/22

Market Verdict on Iron Ore： • Neutral.   Macro: • U.S. Atlantic Federal president Raphael Bostic indicated that he decided to “give up” 75 interest hike in December FOMC, and believed that target policy interest rate of the Federal Reserve only needs to be raised by no more than 100 bps to fight inflation. • …

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Daily Virtual Steel Mill Report 18/11/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro: • Euro Zone October CPI 10.6% on the year, est. 10.7%, refreshed historical high. CPI up 1.5% on the month. The food and energy price were still major contributors to support Euro Zone inflation. • China automobile production 2.559 million units, up 8.6% on …

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Daily Virtual Steel Mill Report 17/11/22

Market Verdict on Iron Ore： • Neutral.   Macro: • UK CPI up 11.1% in October, refreshed the highest since 1982, est. 10.7%, last 10.1%. • U.S. November NAHB housing index at 33, refreshed new low since April 2020, est. 36, last 38.   Iron Ore Key Indicators: • Platts62 $98.10, +2.40, MTD $89.25. Iron …

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