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 …

European Parliament Votes to add Shipping to EU Emissions Trading Scheme (ETS)

  The EU parliament has now approved of new environmental measures, one of which is to include shipping in the EU ETS. It will now move onto negotiations with member states to finalise the new legislation.   The main features of this new regulatory package are: Shipping to be included in the ETS by 2024 …

Daily Virtual Steel Mill Report 23/06/22

Market Verdict on Iron Ore: • Neutral.   Macro • U.K. May CPI up 9.1%, est. 9.1%, refreshed the highest since 1982. May CPI up 0.7% from April.   Iron Ore Key Indicators: • Platts62 $109.40, -6.50, MTD $133.82. Float base iron ore premium dropped massively from $2.8 to $0.45 over the last ten trading …