Daily Virtual Steel Mill Report 29/07/22

Market Verdict on Iron Ore: • Neutral to bullish.   Macro • China and U.S. held tele-conference to discuss on the cooperation in economy development in future, and noted the tariff exemption to alleviate the inflation in U.S.   Iron Ore Key Indicators: • Platts62 $117.95, +6.90, MTD $106.86. The term contract discounts for BHP’s …

Daily Virtual Steel Mill Report 28/07/22

Market Verdict on Iron Ore: • Neutral to bullish.   Macro • U.S. Federal increased 75 basis points in last FOMC to 2.25-2.5%, as expected. • G7 revealed to set up a price-ceiling for Russian oil effective from December 5th.   Iron Ore Key Indicators • Platts62 $111.05, -0.65, MTD $106.24. The term contract discounts …

Daily Virtual Steel Mill Report 27/07/22

Market Verdict on Iron Ore: • Neutral to bullish.   Macro • IMF decreased global GDP growth in 2022 from 3.6% to 3.2%. • U.S. white house indicated that the country would release 20 million barrels of crude oil supply from its national reserve, 1 million barrels on daily basis. • Chinese Machinery Association statistic …

Daily Virtual Steel Mill Report 26/07/22

Market Verdict on Iron Ore: • Neutral to bullish.   Macro • ECB official Kazaks indicated that the big interest hike expected to continue. • China Industry of Steel Association and India Steel Association held video conference to communicate the future corporation in iron ore and coals. • China Evergrande group, the house developer with …

Daily Virtual Steel Mill Report 25/07/22

Market Verdict on Iron Ore: • Neutral to bullish.   Macro • Russia and Ukraine signed agreements with Turkey and the United Nations on the transportation of agricultural products from the Black Sea ports, and the parties will cooperate to export grain from three Ukrainian ports, including Odessa. • According to the sanctions adjustment agreed …