Tag archives: CC

A Room with a Technical View 26/09/22

Capesize October Futures – The upside move in the futures traded above the USD 16,950 resistance resulted in the futures trading to a high of USD 21,000. Our Elliott wave analysis suggests that the upside move should be considered a countertrend, with the futures remaining vulnerable below USD 23,045 and neutral above. The new high …

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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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