Iron Ore Imports Decline, Easing Supply Pressure with Volatile Profits

Publicado: Jan 7, 2025 09:29
According to the SMM imported ore cost-profit table, profits from imported ore were basically flat. This week, the total global iron ore shipments tracked by SMM reached 32.08 million mt, down 7.7% WoW. Among them, shipments from Australia totaled 18 million mt, down 7.7% WoW; shipments from Australia to China were 12.88 million mt, accounting for 71.6% of Australia's total shipments, with a slight decrease of 16.8% WoW. Shipments from Brazil were 7.62 million mt, with a marginal decline of 5.2% WoW. This week, shipments from Australia to China saw a significant drop, while Brazil's share of shipments to China increased substantially. Overall, imported ore supply declined, easing supply pressure. Considering the current pre-holiday restocking activities and the rebound in pig iron production, ore prices received some support. The downward space for iron ore is expected to be relatively small, and profits from imported ore are anticipated to remain volatile.

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