Tag archives: CC

A Room with a Technical View 15/08/22

Capesize September Futures – Technically bearish last week but moving higher on a positive divergence. The futures failed to trade above the USD 25,655 resistance resulting in price trading to a low of USD 13,750. The positive divergence on the daily technical has now failed, warning the USD 11,625 support could be tested. Upside moves …

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Daily Virtual Steel Mill Report 15/08/22

Market Verdict on Iron Ore： • Neutral.   Macro • The U.S. House passed Inflation Reduction Act in 2022. The Act will focus on increase company taxes, reaction to environmental changes, decrease prescription medicines and decrease financial deficit. • Chinese July new issued loans 679 billion yuan, M2 up 12% on the year. The difference …

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Daily Virtual Steel Mill Report 12/08/22

Market Verdict on Iron Ore： • Neutral.   Macro • U.S. July CPI up 8.5%, last 9.1%, est. 8.7%. China July CPI up 2.7 on the year, last 2.5%, est. 2.9%. • Chinese machinery sales in July turned from negative to positive, ended a negative number last for previous 14 months. Jan – Jul machinery …

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Export Tax On Steel Is Being Considered By Indian Steel Minister 12/08/22

Export duty under examination: Indian steel minister   A 15pc export tax on steel imposed by the Indian government in May is being considered and examined by the country’s new steel minister, although no changes have been announced.   “These [export tax removal proposals] are things that I am engaging myself on currently, we will …

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Daily Virtual Steel Mill Report 11/08/22

Market Verdict on Iron Ore： • Neutral.   Macro • U.S. July CPI up 8.5%, last 9.1%, est. 8.7%. China July CPI up 2.7 on the year, last 2.5%, est. 2.9%. • Chinese machinery sales in July turned from negative to positive, ended a negative number last for previous 14 months. Jan – Jul machinery …

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