Tag archives: CC

Daily Virtual Steel Mill Report 12/10/22

Market Verdict on Iron Ore： • Neutral.   Macro • China September social financing increased 3.53 trillion yuan, est. 2.75 trillion yuan, last 2.43 trillion yuan. • IMF estimated global economy growth at 3.2%, unchanged from previous estimation at July. However IMF lowered the global growth rate to 2.7% from 2.9% in 2023.   Iron …

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Daily Virtual Steel Mill Report 11/10/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro • Chicago Federal official Charles Evans indicated that extra supply-chain interactions were not an issue when the unemployment rate was around the same low level in 2019, with less inflationary impact. Evans believed that if this steeper-than-usual Phillips curve is generating much of the …

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A Room with a Technical View 10/10/22

Capesize November Futures – The technical was bullish neutral last week, having held fractal support at USD 14,750. The futures had been moving higher, supported by an oversold stochastic alongside a neutral RSI; we highlighted key resistance at USD 18,917. Upside moves that failed at or below this level would leave the futures vulnerable to …

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Daily Virtual Steel Mill Report 10/10/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro • Chinese September Caixin PMI 49.3, first time below boom and bust line after June. Caixin Manufacturing PMI down 1.4% at 48.1.   Iron Ore Key Indicators: • Platts62 $95.80, unchanged, MTD $95.62. The trade activity in general eased off before and during golden …

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