Telah Terbit: Feb 23, 2024 18:14
【SMM Iron Ore Weekly Report】Looking ahead to next week, overseas shipping volume may slightly decrease due to the impact of the cyclone in Western Australia and heavy rain in Brazil. However, the amount of iron ore arriving at the port may remain high. In terms of downstream demand, according to the blast furnace maintenance data tracked by SMM, some blast furnaces are planning to resume production next week, providing a small increase in molten iron capacity. In addition, many steel mills are focusing on depleting their inventories during the Mid-Autumn Festival, leading to an increase in essential restocking. It is expected that the ore price will be supported to some extent. However, considering the off-peak season for terminal demand and poor market sentiment, it is expected that the ore price will be difficult to significantly increase, and may continue to fluctuate at low levels.

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