Imported Ore Profits Dip Slightly Amid Rising Iron Ore Demand, Market Eyes New Real Estate Policies

Published: Oct 17, 2024 10:14

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According to the SMM imported ore cost-profit statement, the profit of imported ore decreased slightly; on October 16, the blast furnace operating rate of 242 steel plants surveyed by SMM was 90.47%, up 0.29% from the previous month. The blast furnace capacity utilization rate was 91.09%, up 0.45% from the previous month. The average daily output of molten iron from sample steel plants was 2.4482 million tons, an increase of 13,000 tons from the previous month. The demand for iron ore is still on the rise. However, under the suppression of high supply and high inventory, the upward resistance of ore prices is relatively high. The industry is paying attention to the demand and inventory data of the five major materials tomorrow. On the macro side, the State Council Information Office will hold a press conference tomorrow to introduce the situation of the real estate industry, and the market expects new policies to be introduced. It is expected that ore prices may fluctuate on the strong side, and the profit of imported ore may still have room for increase.

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