Iron Ore Profits Rise Slightly Amid Steel Recovery, But Blast Furnace Rates Dip

Publicado: Aug 22, 2024 10:10
According to the SMM cost-profit statement, profits from imported ore have increased slightly; as the prices of finished steel products have stabilized and rebounded, steel mill profits have recovered. Meanwhile, expectations for improved demand during peak season have strengthened, lifting market sentiment and driving significant gains in ferrous commodities. However, this week's SMM-reported blast furnace operating rate was 91.42%, down 0.95% from the previous week. The average daily production of molten iron at sample steel mills was 2.2421 million tonnes, a decrease of 25,100 tonnes from the previous week. The demand for iron ore is still declining, and pressure on iron ore remains, potentially insufficient to drive further price increases. Close attention should be paid to the improvement of apparent steel demand in the later stage. It is expected that profits from imported ore may continue to fluctuate in the short term.

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