Imported Ore Profits Plunge Amid Rising Costs, Market Sentiment Wanes

Publicado: Oct 9, 2024 09:49
According to the SMM imported ore cost-profit statement, the profits of imported ores have fallen sharply. Firstly, the recent rise of the Platts Index has led to a significant increase in costs. However, the policies released at an important meeting held yesterday morning fell short of market expectations, weakening market sentiment and dragging down the market significantly. From a fundamental perspective, due to the recent improvement in steel mill profits, some steel mills have resumed blast furnace production, and the production of molten iron has continued to increase, so the overall demand for iron ore is still acceptable. In the short term, macro sentiment has weakened slightly, and the high port inventory has suppressed spot price increases. In the short term, ore prices may fluctuate, and it is expected that the profits of imported ores will mainly fluctuate in the short term.

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