Iron Ore Imports Remain Unprofitable Amid High Inventories and Weak Demand

Publicado: Aug 19, 2024 10:14
According to the SMM import ore cost profit table, the profit of imported ore is still relatively weak; as of August 16, the inventory of 35 ports tracked by SMM reached 147.16 million tons, an increase of 490,000 tons from the previous month and 29.83 million tons from the same period last year. The average daily port unloading volume of imported ore was 3.086 million tons, an increase of 120,000 tons from the previous month but a decrease of 88,000 tons from the same period last year. This week, iron ore prices fell to a new low, and steel mills replenished stocks at a low level, and the increase in spot trading volume drove the port unloading volume to continue to rise. This indicates that iron ore demand is still supported. Considering that it is difficult for terminal demand to improve substantially, it is expected that ore prices will continue to fluctuate at a low level, and the profit of imported ore is expected to remain weak and fluctuate.

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