Iron Ore Imports Profit Edges Up, But Supply Pressure Hinders Price Rise

Publicado: Nov 19, 2024 09:34
According to the SMM imported ore cost-profit table, the profit of imported ore slightly increased. Yesterday morning, the market received another piece of positive news, as a research team "expects China to launch another phased fiscal stimulus plan of 5-10 trillion yuan." Boosted by this news, the most-traded iron ore contract I2501 surged significantly. However, from a fundamental analysis perspective, according to SMM shipping data, global iron ore shipments increased significantly last week, and supply remains abundant. Therefore, despite the market reaction, supply pressure still exists, and iron ore prices may face further resistance to rise. It is expected that the profit of imported ore will continue to fluctuate.

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