Iron Ore Profits Plunge as Market Sentiment Remains Pessimistic, but Steel Mill Profits Improve

Publicado: Aug 16, 2024 09:38
According to the SMM imported ore cost-profit statement, the profits of imported ore have fallen sharply; the total demand for the five major steel materials declined slightly on a month-on-month basis yesterday. With the reduction in total output, total inventory also declined accordingly. In addition, various real estate indicators released by the National Bureau of Statistics yesterday showed that the real estate industry is still in decline. The pessimistic sentiment in the market continues to spread, causing iron ore prices to fall to a new low. Recently, the decline in raw material prices has exceeded that of finished steel products, restoring steel mill profits and reducing the likelihood of further blast furnace maintenance by steel mills, thereby providing certain support for iron ore demand and prices. It is expected that the profits of imported ore will remain weak and stable in the short term.

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According to the SMM imported ore cost-profit statement, the profits o - Shanghai Metals Market (SMM)