Tag archives: CC

A Room with a Technical View 08/08/22

Capesize September Futures – We noted on the last report that the futures were technically bullish based on higher highs and higher lows; however, with the RSI at 50 and the stochastic overbought, momentum was warning that if the RSI moved below 50, we could be vulnerable to a test to the downside. The RSI …

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Daily Virtual Steel Mill Report 09/08/22

Market Verdict on Iron Ore： • Neutral.   Macro • U.S. New York Federal survey indicated that the future three-year inflation expectation fell from 3.6% to 3.2%.   Iron Ore Key Indicators: • Platts62 $108.80, +1.85, MTD $108.98. The term contract discounts for FMG in August widened in August, however market participants indicated that the …

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Daily Virtual Steel Mill Report 08/08/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro • EU started to ban Russian coals shipping from August 10th. • U.S. new added jobs in July created the biggest increase since February, which strengthened the expectation of 75 bps rate hike in September.   Iron Ore Key Indicators: • Platts62 $106.95, +3.15, …

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Daily Virtual Steel Mill Report 05/08/22

Market Verdict on Iron Ore： • Neutral.   Macro • BOE increased interest rate by 50 basis points to 1.75%, created the biggest one-time hike during the past 27 years. BOE expect the inflation rate would reach roof area at 13.3% in this October. BOE expect U.K. economy would enter into recession from this Q4. …

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Daily Virtual Steel Mill Report 03/08/22

Market Verdict on Iron Ore： • Neutral.   Macro • U.S. Federal pushed back against a narrative that policy makers are envisioning a pivot away from tightening. Four Federal distinct-bank presidents highlighted in remarks on Tuesday that there was no sign yet of inflation easing. • China July Machinery Index 96.55, down 12.18% on the …

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