Tag archives: CC

A Room with a Technical View 31/10/22

Oil December Futures – We noted on the last report that the futures were bullish but in a corrective phase with key near-term support at USD 90.57; a build in the aggregate open interest (AOI) suggested the market was building to the long side. The futures broke Fibonacci support but held the USD 86.35 fractal, …

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Daily Virtual Steel Mill Report 01/11/22

Market Verdict on Iron Ore： • Neutral.   Macro: • Chinese October Manufacturing PMI 49.2, last 50.1. Non-manufacturing PMI 48.7, last 50.6. • Euro zone Q3 GDP growth rate 0.2% from Q2, est. 0.1%, last 0.8%. Eurozone October adjusted CPI up 1.5% on the month, est. 1.2%, last 1.2%. Eurozone October inflation rate refreshed highest …

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Daily Virtual Steel Mill Report 28/10/22

Market Verdict on Iron Ore： • Neutral.   Macro: • Chinese NBS: For the first nine months of the year, Chinese industrial enterprises value-added above designated scale 6.24 trillion yuan, down 2.3% y-o-y. • U.S. Q3 GDP up 2.6% on the year, higher than expected 2.4%, created the first positive growth quarter after two consecutive …

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Daily Virtual Steel Mill Report 27/10/22

Market Verdict on Iron Ore： • Neutral.   Macro: • U.S. dollar index depreciated fast from 113.93 to 109.53 since Oct 21st. Non-U.S. currency appreciated significantly during this week. Chinese yuan appreciated over 1200 bps yesterday. • World Bank: Due to the EU embargo, insurance and shipping restrictions, Russia’s oil exports may decrease by up …

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Daily Virtual Steel Mill Report 26/10/22

Market Verdict on Iron Ore： • Neutral.   Macro: • The Chinese central bank and the foreign exchange bureau said that they should maintain the healthy development of the stock market, bond market and property market. They should keep the exchange rate basically stable at a reasonable and balanced level. The CBRC stressed that the …

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