Tag archives: CC

A Room with a Technical View 15/08/22

Capesize September Futures – We remain in a bearish trending environment, with the futures below all key moving averages supported by the RSI below 50. The futures have traded below the USD 10,950 low, creating a positive divergence on the intraday RSI, not a buy signal. It does warn that we have the potential to …

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Daily Virtual Steel Mill Report 30/08/22

Market Verdict on Iron Ore： • Neutral.   Macro • U.S. dollar index DXY refreshed new high yesterday at 109, a 20-year-high. Non-dollar currencies experienced fast depreciation in past two weeks. • China Automobile Associaiton: Jan- Jul auto-making profit 273.94 million yuan, down 14.4% on the year, improved 11.1% from Jan-Jun. The auto-making industry contribute …

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Daily Virtual Steel Mill Report 29/08/22

Market Verdict on Iron Ore： • Neutral.   Macro • U.S. central PCE increased 4.6% year-on-year, est. 4.7%, last 4.8%, refreshed the lowest since February 2021. • Jan- July above designated industrial value added amount at 4.89 trillion yuan, down 1.1% on the year.   Iron Ore Key Indicators: • Platts62 $105.80, +3.55, MTD $105.49. …

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Daily Virtual Steel Mill Report 26/08/22

Market Verdict on Iron Ore： • Neutral.   Macro • U.S. federal official indicated that the 3.75- 4% was “approachable”. However inflation expected to last for longer time. • European central bank(ECB) monetary conference note indicated to increase 50 bps would be acceptable.   Iron Ore Key Indicators: • Platts 62% $102.25, -0.25,MTD 105.46. Both …

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Daily Virtual Steel Mill Report 25/08/22

Market Verdict on Iron Ore： • Neutral. Macro   • U.S. Markit Manufacturing PMI 51.3 in August, refreshed new low since July 2020. Eurozone Manufacturing PMI 49.7, refreshed new low of the past 26 months. • MySteel 170 power plants total coal inventories 26.17 million tons, down 267,000 tons w-o-w. Daily consumption 1.575 million tons, …

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Indian Steel Minister Stresses Raw Materials Security 25/08/22

India’s steel minister has underlined the need for raw materials security and decarbonisation measures but is yet to announce any changes to taxes on iron ore and steel exports. “It is about time we commit ourselves to reduce our carbon emissions by a minimum of 30-40pc… the strategy should be based on carbon minimisation, carbon …

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