Daily Virtual Steel Mill Report 19/08/24

Verdict: • Short-run Neutral.   Macro: • China Ministry of Commerce and seven other departments increased subsidy standards for scrapped automobiles, and raised the subsidy standards for purchasing new energy passenger vehicles and fuel passenger vehicles to 20,000 yuan and 15,000 yuan from 10,000 yuan and 7,000 yuan respectively. • Mining group BHP Billiton announced …