Daily Virtual Steel Mill Report 22/08/24

Verdict: • Short-run Neutral to Bullish.   Macro: • According to US Federal notes overnight, the Federal expected to cut interest rate once in September, and one more cut in late 2024. The Federal expected an ease monetary condition in 2025.   Iron Ore Key Indicators: • Platts62 $97.90, +2.80, MTD $98.33. As we expected …

Daily Virtual Steel Mill Report 21/08/24

Verdict: • Short-run Neutral to Bullish.   Macro: • Goldman Sachs indicated that China crude oil demand in 2025 should maintain stable, estimated crude oil price at $68/b.   Iron Ore Key Indicators: • Platts62 $95.10, +0.65, MTD $98.36. The physical iron ore market became active from this week, eyeing significant growth of discount cargoes …