Daily Virtual Steel Mill Report 02/08/22

Market Verdict on Iron Ore: • Neutral.   Macro • China MIIT calculated the scrap input ratio in steelmaking reaching 15%, accounting for 180 million tons in 2025. In 2030, the ratio expected to reach 20%. • China Caixin Manufacturing PMI in July 50.4, 1.3 lower than June. U.S. Markit Manufacturing PMI 52.2, est. 52.3, …

Daily Virtual Steel Mill Report 01/08/22

Market Verdict on Iron Ore: • Neutral to bullish.   Macro • China PM Li Keqiang held conference after the political conference held last week to promote investment and consumption, including acceleration on local debts, investment projects in the central budget, automobile consumption, green energy home appliances and green building materials. • China July PMI …

Daily Virtual Steel Mill Report 29/07/22

Market Verdict on Iron Ore: • Neutral to bullish.   Macro • China and U.S. held tele-conference to discuss on the cooperation in economy development in future, and noted the tariff exemption to alleviate the inflation in U.S.   Iron Ore Key Indicators: • Platts62 $117.95, +6.90, MTD $106.86. The term contract discounts for BHP’s …

Daily Virtual Steel Mill Report 28/07/22

Market Verdict on Iron Ore: • Neutral to bullish.   Macro • U.S. Federal increased 75 basis points in last FOMC to 2.25-2.5%, as expected. • G7 revealed to set up a price-ceiling for Russian oil effective from December 5th.   Iron Ore Key Indicators • Platts62 $111.05, -0.65, MTD $106.24. The term contract discounts …

Daily Virtual Steel Mill Report 27/07/22

Market Verdict on Iron Ore: • Neutral to bullish.   Macro • IMF decreased global GDP growth in 2022 from 3.6% to 3.2%. • U.S. white house indicated that the country would release 20 million barrels of crude oil supply from its national reserve, 1 million barrels on daily basis. • Chinese Machinery Association statistic …