Iron Ore Market: Supply Rebounds but Faces Decline Due to Weather, Demand Trends Downwards

Publicado: Dec 17, 2024 09:51
According to SMM's imported ore cost-profit table, imported ore profits remained basically flat. SMM shipping data showed that global iron ore shipments totaled 31.96 million mt, up 15.3% MoM. Among them, Australian shipments reached 18.59 million mt (up 22.9% MoM), and Brazilian shipments were 6.28 million mt (up 11.3% MoM). This week, iron ore supply showed a significant rebound, with a notable increase from Australia. Recent heavy rains in Australia have affected some shipments, and iron ore supply is expected to shrink next week. Meanwhile, port arrivals remained stable this week with relatively small fluctuations. Considering the previous shipment reductions and the impact of domestic rain and snow this week, port arrivals are expected to decline next week. In the short term, shipments from both Australia and Brazil face influencing factors, and iron ore supply is expected to decrease. At the same time, blast furnace maintenance at steel mills continues to increase, and iron ore demand is also expected to maintain its downward trend. With both supply and demand weakening, iron ore is likely to experience high-level fluctuations this week, and imported ore profits are also expected to fluctuate.

Declaración de Fuente de Datos: Excepto la información disponible públicamente, todos los demás datos son procesados por SMM basándose en información pública, comunicación de mercado y confiando en el modelo de base de datos interna de SMM. Son solo para referencia y no constituyen recomendaciones para la toma de decisiones.

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