Daily Virtual Steel Mill Report 19/08/22

Market Verdict on Iron Ore: • Neutral.   Macro • China NBS: July excavators produced 19,612 units, down 3.2% on the year. Jan-July total produced 185,743 units, down 25.6% on the year. Jan- July total sold 161,033 units, down 33.2% on the year. • U.K. CPI in July up $10.1 on the year, refreshed the …

Daily Virtual Steel Mill Report 18/08/22

Market Verdict on Iron Ore: ·         Neutral.   Macro ·           NAHB/Wells Fargo Housing Index(HMI) decrease 6 to 49, created the eighth consecutive monthly decrease. The number was also the lowest since 2014, which indicated the U.S. economy was slowing down. ·           AFS: Global automobile market decreased 2.9973 million units, expected to decrease 3.8262 million units …

Daily Virtual Steel Mill Report 17/08/22

Market Verdict on Iron Ore: ·         Neutral.   Macro ·           NAHB/Wells Fargo Housing Index(HMI) decrease 6 to 49, created the eighth consecutive monthly decrease. The number was also the lowest since 2014, which indicated the U.S. economy was slowing down. ·           AFS: Global automobile market decreased 2.9973 million units, expected to decrease 3.8262 million units …

Daily Virtual Steel Mill Report 16/08/22

Market Verdict on Iron Ore: • Neutral.   Macro • Chinese central bank PBOC lowered one-year length Medium Lending Facility rate from 2.85% to 2.75%. Market expect Loan Prime Rate in China should follow the decrease soon. • NAHB/Wells Fargo Housing Index(HMI) decrease 6 to 49, created the eighth consecutive monthly decrease. The number was …

BHP Cuts Investment In Australian Coking Coal Business 16/08/22

Australian resources firm BHP has cut all investment in its Queensland coking coal business, in response to the state government’s coal royalty rate increase and China’s continuing ban on imports of Australian coal. “We are not going to deploy any major capital into the Queensland coal business following the change in the Queensland royalties,” BHP …