Tag archives: CC

Daily Virtual Steel Mill Report 15/07/22

Market Verdict on Iron Ore： • Neutral.   Macro • “Hawkish” U.S. Federal official James Bullard favors 75 basis point hike in July, reversed previous view on 100 basis points. FedWatch suggested that the probability of 100 bp hike dropped from 80% to 45% in a day. • China NDRC indicated that the 3% CPI …

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China Studies Ending Australia Coal Ban on Supply Fear 15/07/22

China Studies Ending Australia Coal Ban on Supply Fear   Chinese bureaucrats studying the energy outlook are proposing to end a near two-year ban on Australian coal as tensions begin to ease and on concerns supply may tighten when Western-led sanctions on Russian energy kick in. The proposal will be submitted to senior leaders, with …

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Daily Virtual Steel Mill Report 14/07/22

Market Verdict on Iron Ore： • Neutral.   Macro • U.S. CPI refreshed 40 -year-high at 9.1%, last 8.6%, est. 8.8%. However U.S. president Joseph Biden believed that the oil price has fallen recently, which yet to reflect in the inflation statistics. • Goldman Sachs expected copper average price at $6700/mt, $7600/mt and $9000/mt in …

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Daily Virtual Steel Mill Report 13/07/22

Market Verdict on Iron Ore： • Neutral.   Macro • OPEC: Global oil supply tension yet to resolve. OPEC expected oil demand increase by 2.7 million barrels/day in 2023, with total demand at 30.10 million barrels, up 900,000 barrels/day from 2022. • Goldman Sachs expected copper average price at $6700/mt, $7600/mt and $9000/mt in the …

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Daily Virtual Steel Mill Report 12/07/22

Market Verdict on Iron Ore： • Neutral.   Macro • Chinese M2 supply up 11.4% in June, last 11.1%, est. 11.1%, beyond expectations. • The Nord Stream I natural gas pipeline, Russia’s main gas pipeline to Europe, has begun annual maintenance and suspended gas transmission.   Iron Ore Key Indicators: • Chinese steel mills expected …

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A Room with a Technical View 11/07/22

Capesize August Futures – Technically bullish last week with the futures in the early stages of a corrective phase. The price traded to a low of USD 26,000, meaning we held the USD 23,897 support, resulting in the futures moving higher. The moving averages are now flat indicating a lack of trend in the market, …

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