Iron Ore Imports Profit Recovers Slightly Amid Rising Stocks, Mixed Discharge Trends

Publicado: Oct 21, 2024 09:53
According to the SMM imported ore cost-profit statement, the profit of imported ore has recovered slightly; as of October 18, the total inventory of 35 ports monitored by SMM was 149.73 million tons, an increase of 1.89 million tons from the previous month and 44.72 million tons year-on-year. The average daily port discharge of imported ore was 3.144 million tons, a decrease of 16,000 tons from the previous month and an increase of 140,000 tons year-on-year. Considering the high level of shipments in the early stage, the volume of arrivals increased significantly; coupled with the fact that the replenishment pace of steel plants after the holiday was lower than expected, the port discharge showed a downward trend. Looking ahead to this week, the demand for iron ore is still expected to increase slightly. However, considering that the short-term vacuum period will follow the fulfillment of macroeconomic expectations, it is expected that the ore price will fluctuate widely this week, and the profit of imported ore may continue to fluctuate.

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