Publicado: Jan 19, 2024 10:05
Regarding the import profit of SMM, the loss of imported ore has shown some recovery. From a fundamental perspective, according to SMM port inventory data, this week's port inventory is still showing an accumulation. The total inventory of the top ten main ports in the country increased by 1.02 million tons compared to last week, reaching 89.89 million tons. Among them, coarse powder and pellets are showing accumulation, while fine powder and lump ore are showing a decrease in inventory. Most steel mill profits remain at low levels, but some steel mills are considering taking action to replenish their inventory before the Spring Festival holiday. Some steel mills are waiting and observing the performance of iron ore prices before starting to replenish their inventory. As steel mills gradually start to replenish their inventory, the accumulation of port inventory is expected to slow down, providing some support to iron ore prices, and it is expected that the import ore profit may rebound in the near future.

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Regarding the import profit of SMM, the loss of imported ore has shown - Shanghai Metals Market (SMM)