Looking at the import profit statement of SMM, the profit from importe

Published: Jan 3, 2024 10:22

Save

Looking at the import profit statement of SMM, the profit from imported ore has decreased again due to the increase in cost caused by the rise in Platts average price at the beginning of the month. From a fundamental perspective, SMM shipping data shows that the global iron ore shipping volume was 35.49 million tons, a slight increase of 1% compared to the previous period. The volume arriving at the port increased significantly by 21.49% to 280.88 million tons. With the end of some blast furnace maintenance, iron production is expected to increase. Additionally, market sentiment was boosted by news of a shipping accident involving Australian iron ore over the weekend. Looking ahead, there is a strong expectation in the market for steel mills to replenish their stocks, and it is anticipated that imported ore profits may be restored.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

44 mins ago

Magnesium Prices Rise for Three Consecutive Sessions! Cost Side Remains "Burning Hot" While Demand Side Struggles to Take Over [SMM Commentary]

44 mins ago

1 hour ago

[ Canada to Impose 50% Retaliatory Tariff on US Steel ]

The Canadian government announced a 50% retaliatory tariff on United States exports of steel and aluminum, scheduled to take effect on September 8, 2026. The aggressive trade measure directly responds to the recent collapse of bilateral metal trade negotiations and the implementation of US tariffs. The cross-border penalties threaten to heavily disrupt integrated North American steel supply chains ahead of the fast-approaching deadline.

1 hour ago

[ Bharat Coking Coal Output Grows 2.8% in August ]

Bharat Coking Coal Limited (BCCL) announced that its coking coal production increased by 2.8% year-on-year to 2.18 million tonnes in August 2026. Despite a sharp 65.9% drop in non-coking coal output, the core metallurgical segment drove total raw coal production to 2.21 million tonnes for the month. Opencast mining operations were the primary contributors to this volume, generating 2.19 million tonnes of the total yield.

1 hour ago