Ore Prices Fluctuate Upwards Amid Rising Import Profit Margins and Stable Demand

게시됨: Nov 22, 2024 10:05
According to the SMM imported ore cost-profit table, the profit margin for imported ore increased slightly. The apparent demand for rebar rose against the trend yesterday. Due to some steel mills switching pig iron production and undergoing maintenance, the supply decreased slightly, resulting in moderate pressure in the future. The apparent demand for hot-rolled steel maintained a slight increase. Although production saw a significant rise, driven by exports, the destocking rate for this cycle was moderate. The overall data for the five major materials performed well, providing support for ferrous metals series prices. Coupled with recent purchases of dollar-denominated goods by some inland steel mills to replenish inventory, it is expected that ore prices may continue to fluctuate upward in the short term, and the profit margin for imported ore may still have room to rise.

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According to the SMM imported ore cost-profit table, the profit margin - Shanghai Metals Market (SMM)