Tag archives: CC

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 …

Continue reading “Daily Virtual Steel Mill Report 28/10/22”

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 …

Continue reading “Daily Virtual Steel Mill Report 27/10/22”

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 …

Continue reading “Daily Virtual Steel Mill Report 26/10/22”

Daily Virtual Steel Mill Report 25/10/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro: • U.S. October Manufacturing PMI 49.9, refreshed new low since June 2020. • Chinese January to September crude steel production 780.83 million tons, down 4.3% on the year. Total coal production 3320 million tons, up 11.2% on the year. Total crude oil production 153.75 …

Continue reading “Daily Virtual Steel Mill Report 25/10/22”