Tag archives: CC

Daily Virtual Steel Mill Report 07/09/22

Market Verdict on Iron Ore： • Neutral.   Macro • British new PM Elizabeth Truss said that she will prioritise economic growth, tackling energy crisis and improving access to health service. • From January to August, China imported 723 million tons of iron ores, down 3.1% on the year. China imported 61.33 million tons of …

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Daily Virtual Steel Mill Report 06/09/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro • China PBOC decreased foreign reserve ratio from 8% to 6% to neutralise the depreciation risk on Chinese Yuan, which was the second time cut on this ratio within the year. • Chinese financial department statistics indicated that total debt issuance at 352 million …

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A Room with a Technical View 05/09/22

Capesize October Futures – The futures roll has resulted in the technical producing an upside gap due to the carry against the September futures. We have seen a couple of bullish days following the roll, resulting in price trading into the Fibonacci resistance zone; however, the upside move has failed to trade above the USD …

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Daily Virtual Steel Mill Report 05/09/22

Market Verdict on Iron Ore： • Neutral.   Macro • An official from the Ministry of Industry and Information Technology (MIIT) said at the raw material industry high-quality development press conference that the prices of steel, copper, aluminum, cement and other products have declined recently, and that the MIIT will continue to ensure supply and …

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Daily Virtual Steel Mill Report 02/09/22

Market Verdict on Iron Ore： • Neutral.   Macro • Eurozone 19 countries August PMI decreased from 49.8 to 49.6, indicating the high energy cost and consumer price lower the demand. Germany and Italy PMI refreshed 26-months low.   Iron Ore Key Indicators: • Platts62 $95.6, -5.35, AVG $95.6. PBF and NMHG regained popularity, with …

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