Publicado: Sep 12, 2023 06:38
Summary of SMM Steel Morning Meeting: Macroeconomic data is favorable, driving iron ore futures to rise significantly. SMM Global Iron Ore shipment totaled 31.62 million tons, a month-on-month decrease of 10.5%. Australia and Brazil both decreased month-on-month. At the same time, affected by typhoons and other factors, the total amount of iron ore arriving at the port decreased by 17.25% month-on-month to 20.76 million tons. On the demand side, it has already been at a high level this year. Considering that it is already mid-September, with the low inventory of iron ore in steel mills, there may be a slight increase in replenishment demand before the National Day. The high demand for iron ore provides strong support for ore prices. However, ore prices are currently in a sensitive period, with increased regulatory risks, and it is expected to remain at a high level in the short term.

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