Tag archives: CC

Daily Virtual Steel Mill Report 29/09/22

Market Verdict on Iron Ore： Neutral to bullish.   Macro： National conference from CFXC(China Foreign Exchange Commission) mentioned to stablise foreign exchange market, prevent Chinese yuan from sharp rise or fall. Previously Japan started to release 3.6 trillion Yen to slow down the fast depreciating Yen.   Iron Ore Key Indicators: Platts62 $99.60, +0.85, MTD …

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Daily Virtual Steel Mill Report 28/09/22

Market Verdict on Iron Ore： Neutral to bullish.   Macro China NBS: Jan- Aug industrial profit above designated scale amount reached 5.5 trillion yuan, down 2.1% on the year. Nord Stream AG found that three pipelines were damaged, which is unprecedented. The Company was not able to estimate when the natural gas transmission infrastructure will …

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A Room with a Technical View 26/09/22

Capesize October Futures – The upside move in the futures traded above the USD 16,950 resistance resulted in the futures trading to a high of USD 21,000. Our Elliott wave analysis suggests that the upside move should be considered a countertrend, with the futures remaining vulnerable below USD 23,045 and neutral above. The new high …

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Daily Virtual Steel Mill Report 26/09/22

Market Verdict on Iron Ore： Neutral to bullish.   Macro To stabilize foreign exchange market expectations and strengthen macro prudential management, the People’s Bank of China has decided to raise the foreign exchange risk reserve ratio of forward exchange surrendering from 0-20%. U.S. Nasdaq corrected 5.03% during last week, total down 16.7% from August 12th, …

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Daily Virtual Steel Mill Report 23/09/22

Market Verdict on Iron Ore： • Neutral to bullish.   Macro： • BOE hiked interest rate by 50 bps to 2.25%, in line with expectations. • The Asian Development Bank released a report of Asian Development Outlook 2022, and lowered the economic growth forecast of developing Asian economies to 4.3% this year, compared with 5.2% …

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