Iron Ore Imports Profit Marginally Down Amid Rising Shipments and Price Pressures

Publicado: Sep 24, 2024 09:26
According to the SMM cost-profit statement, the profit of imported ore declined slightly; the total shipment of SMM global iron ore was 35.53 million tons, a 14.4% increase from the previous month. Among them, the shipments from Australia and Brazil both increased; the shipments from non-mainstream mines also rose, yet due to the low price of iron ore, the incremental shipments of non-mainstream mines were relatively small. The substantial increase in supply is bearish for ore prices, and coupled with high port inventories, ore prices continue to decline under pressure. Considering that molten iron is in a recovery period, and pre-holiday restocking has driven the overall demand for iron ore, which provides certain support for ore prices, it is expected that the profit of imported ore will have some upside potential in the short term.

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