Imported ore cost and profit on March 26

Judging from the SMM imported ore profit statement, the profit of imported ore increased slightly; SMM's global iron ore shipments totalled 30.12 million tons, an increase of 1.6% month-on-month. The shipments from Australia was down by 5.3% on a weekly basis to 17.40 million mt, of which 15.19 million mt or 87.3% went to China, up 0.5%. The shipments from Brazil fell 0.4% on a weekly basis to 5.64 million mt, of which 2.1 million mt or 37.2% went to China, down 40.8%. A total of 24.30 million mt of iron ore arrived at Chinese ports, down 2.6% week-on-week. Judging from the shipping data, shipments are still at a high level, and arrivals at the port have decreased; considering that the recent improvement in building materials transactions and terminal demand have improved, it is expected that ore prices has not yet peaked, and iron ore profits are expected to grow in the near future.