Daily Virtual Steel Mill Report 15/11/22

Market Verdict on Iron Ore: • Neutral to bullish.   Macro: • OPEC decreased the oil market demand for the fifth time in 2022 since April. The OPEC expected the oil demand in 2022 at 2.55 million barrels/day, down 100,000 barrels/day from last report. • China Tianjin published 14 detailed practices to support automobile consumption. …

Daily Virtual Steel Mill Report 14/11/22

Market Verdict on Iron Ore: • Neutral to bullish.   Macro: • European Commission sent the Autumn economy outlook 2022, expected the GDP growth in 2022 at 3.3% in EU, GDP growth in 2023 at 0.3%. The report expected the inflation rate in EU countries in 2022 and 2023 at 9.3% and 7% respectively. • …

Daily Virtual Steel Mill Report 11/11/22

Market Verdict on Iron Ore: • Neutral to bullish.   Macro: • U. S. October CPI up 7.7%, lower than 8.2% at September, lower than expected. created the smallest since January 2022. U. S. stock index and industrial commodities rebound following the news. 10-Year Note yield fell below 4%. Investors expected a slowdown on interest …

Daily Virtual Steel Mill Report 10/11/22

Market Verdict on Iron Ore: • Neutral to bullish.   Macro: • The vice president of ECB Luis de Guindos indicated that the bank would maintain interest increase till the inflation return to stable mode. The inflation rate expected to reach 10.7% and decrease from mid-2023. • China October PPI down 1.3% on the year, …

Daily Virtual Steel Mill Report 09/11/22

Market Verdict on Iron Ore: • Neutral to bullish.   Macro: • The vice president of ECB Luis de Guindos indicated that the bank would maintain interest increase till the inflation return to stable mode. The inflation rate expected to reach 10.7% and decrease from mid-2023. • China Machinery Association statistics covering 26 enterprises indciated …