Tag archives: CC

Daily Virtual Steel Mill Report 25/11/22

Market Verdict on Iron Ore： • Neutral.   Macro: • ECB indicated at the monetary conference that the bank would consider to “pause” QT if see serious economy recession in long-run.   Iron Ore Key Indicators: • Platts62 $95.20, +1.00, MTD $91.42. The seaborne market saw less bids although macro environment recovered during last two …

Continue reading “Daily Virtual Steel Mill Report 25/11/22”

Daily Virtual Steel Mill Report 24/11/22

Market Verdict on Iron Ore： • Neutral.   Macro: • China State Council proposed to increase financial support for the real economy, appropriately use monetary policy tools such as reserve ratio reduction in due time, and maintain sufficient liquidity. The meeting stressed that it is necessary to promote major projects to speed up capital payment …

Continue reading “Daily Virtual Steel Mill Report 24/11/22”

Daily Virtual Steel Mill Report 23/11/22

Market Verdict on Iron Ore： • Neutral.   Macro: • OECD predicted that the global economy growth rate could slow down from 3.1% to 2.2% in 2023. • ECB officer Holzmann supported the interest hike of 75 bps in December.   Iron Ore Key Indicators: • Platts62 $94.20, -2.05, MTD $91.18.The seaborne market saw less …

Continue reading “Daily Virtual Steel Mill Report 23/11/22”

Daily Virtual Steel Mill Report 21/11/22

Market Verdict on Iron Ore： • Neutral.   Macro: • Multiple Chinese departments indicated that to support housing development and resolve financing and restructures. • U.S. houses sales decreased for nine month consecutively, however house price up 128 months consecutively. The 30-year mortgage rate reached 20-year-high.   Iron Ore Key Indicators: • Platts62 $96.25, -2.85, …

Continue reading “Daily Virtual Steel Mill Report 21/11/22”

A Room with a Technical View 21/11/22

Capesize Dec Futures – The trend remains bearish, having traded down to the 100% projection level at USD 8,500 (low USD 8,525). We remain below all key moving averages supported by the RSI below 50; however, the RSI is now in divergence with price, warning that we have the potential to see a momentum slow …

Continue reading “A Room with a Technical View 21/11/22”

Daily Virtual Steel Mill Report 21/11/22

Market Verdict on Iron Ore： • Neutral.   Macro: • U.S. Atlantic Federal president Raphael Bostic indicated that he decided to “give up” 75 interest hike in December FOMC, and believed that target policy interest rate of the Federal Reserve only needs to be raised by no more than 100 bps to fight inflation. • …

Continue reading “Daily Virtual Steel Mill Report 21/11/22”