Iron Ore Profits Remain Flat as Market Enters Weak Consolidation Phase

Publicado: Oct 10, 2024 10:07
According to the SMM imported ore cost-profit statement, the profits of imported ore remain basically flat. According to SMM research, on October 9, the blast furnace operating rate of 242 steel plants surveyed by SMM was 90.18%, up 0.78% from the previous month. The average daily output of molten iron from sample steel plants was 2.4352 million tons, an increase of 10,000 tons from the previous month. Although the output of molten iron has rebounded, the increase is relatively small, providing limited support for ore prices. Against the backdrop of weakening macro-positive factors, the market has entered a stage of weak consolidation. In the short term, iron ore prices may show a trend of narrow fluctuations, and it is expected that the profits of imported ore may continue to fluctuate.

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