Iron Ore Import Cost and Profit Statement on April 23, 2025

According to SMM's imported ore cost and profit table, the profit from imported ore remained relatively stable. SMM statistics showed that the pig iron production affected by blast furnace maintenance this week decreased to 969,000 mt, down 191,300 mt MoM. The impact from maintenance next week is expected to decrease by 36,800 mt MoM from this week, indicating that the current round of pig iron growth is nearing its end, with limited room for further increases. Although the US-China tariff policy continues to disturb market sentiment, as the month-end Politburo meeting approaches, expectations for macro policy support have provided a boost to ore prices. Overall, with the resilience of fundamentals and the anticipation of favorable policies, iron ore prices are expected to hold up well in the short term, and there is still some room for imported ore profits to rise in the near term.