According to SMM's imported ore profit table, the profit of imported o

Published: Mar 4, 2024 10:18

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According to SMM's imported ore profit table, the profit of imported ore has rebounded slightly. SMM tracked a total of 135.47 million tons of inventory in 35 ports, an increase of 2.83 million tons compared to the previous period, and a decrease of 790,000 tons compared to the same period last year. The average daily ore unloading volume of imported ore is 2.82 million tons, an increase of 220,000 tons compared to the previous period, and a decrease of 269,000 tons compared to the same period last year. The pace of steel mill procurement has accelerated, and the increase in daily ore unloading is relatively significant compared to the previous period. Looking ahead to next week, according to SMM's tracking of blast furnace operation, the operating rate and molten iron production are showing an upward trend, providing some support for the demand for iron ore. It is expected that the daily ore unloading at the port will continue to show an upward trend, but considering the market's expectation of a weakening in the two sessions, combined with the lack of clear signs of improvement in downstream demand, market sentiment remains pessimistic. It is expected that ore prices will continue to fluctuate weakly, and the profit of imported ore is expected to continue to operate in a fluctuating manner.

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.

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