Tag archives: CC

Daily Virtual Steel Mill Report 26/09/22

Market Verdict on Iron Ore： Neutral to bullish.   Macro To stabilize foreign exchange market expectations and strengthen macro prudential management, the People’s Bank of China has decided to raise the foreign exchange risk reserve ratio of forward exchange surrendering from 0-20%. U.S. Nasdaq corrected 5.03% during last week, total down 16.7% from August 12th, …

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Daily Virtual Steel Mill Report 23/09/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro： • BOE hiked interest rate by 50 bps to 2.25%, in line with expectations. • The Asian Development Bank released a report of Asian Development Outlook 2022, and lowered the economic growth forecast of developing Asian economies to 4.3% this year, compared with 5.2% …

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Daily Virtual Steel Mill Report 22/09/22

Market Verdict on Iron Ore： Neutral to bullish.   Macro: U.S. Federal increased 75 bps in September FOMC to 3.00-3.25%. Powell quoted the interest plot matrix that the Federal potentially increase 100-125 bps for the remaining of 2022. The Asian Development Bank released a report of Asian Development Outlook 2022, and lowered the economic growth …

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Daily Virtual Steel Mill Report 21/09/22

Market Verdict on Iron Ore： Neutral.   Macro European Central Bank President Lagarde is expected to further increase interest rates. ECB indicated that the inflation prospect will determine the terminal point of interest rate. Canada August CPI up 7% on the year, lower than 7.6% in July, lower than estimated 7.3%. Japan core CPI up …

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Australia BHP Coal Mine Workers Set To Vote On Strike 21/09/22

BHP coal mine workers in Australian state set to vote on industrial action   Workers at four mines of the BHP Mitsubishi Alliance (BMA), which owns Australia’s largest metallurgical coal fields, will vote on strike action over working conditions and job security, their union said on Wednesday. The possibility of industrial action at some sites …

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