China’s Biggest Coal Region Raises Anuual Output To Ensure Power Supply 30/06/22

China’s Top Coal Region Expands to Prevent Another Power Crunch   China’s biggest coal-mining region will shoulder much of the increases in capacity demanded by the government to forestall another national power crisis. The northern province of Shanxi has pledged to add 107 million tons this year, over a third of the country’s target, which …

Daily Virtual Steel Mill Report 29/06/22

Market Verdict on Iron Ore: • Neutral.   Macro • China reduced Covid-19 related quantarine period, lifted sentiments on secondary market investments. • ECB Finance Minister Lagarde reclaimed to hike 25 bp on interest rate in July, and inidcated that it is necessary to start more aggressive hike in this September.   Iron Ore Key …

Daily Virtual Steel Mill Report 28/06/22

Market Verdict on Iron Ore: • Neutral.   Macro • During the first five months of 2022, Chinese industrial enterprises above designated scale reached 3.44 trillion yuan, up 1% on the year. Jan- Apr growth was 3.5%. The revenue growth reached 6.8% on the year.   Iron Ore Key Indicators: • Platts62 $119.60, +4.60, MTD …

Daily Virtual Steel Mill Report 27/06/22

Market Verdict on Iron Ore: • Neutral.   Macro • IMF decreased the U.S. economy growth rate from 3.7% to 2.9% in 2022, 2.3% to 1.7% in 2023. • Global energy bureau predicted the investment in energy would increase 8% in 2022, equivalent to 2.4 trillion U.S. dollars, mainly contributed by green energy sources and …

Daily Virtual Steel Mill Report 24/06/22

Market Verdict on Iron Ore: • Neutral.   Macro • U.K. PMI 53.4, created the lowest from July 2020, est. 53.7, last 54.6. • Global energy bureau predicted the investment in energy would increase 8% in 2022, equivalent to 2.4 trillion U.S. dollars, mainly contributed by green energy sources and power grid.   Iron Ore …