iconApr 30, 2024 09:41
Source:SMM
According to SMM's cost-profit table of imported ore, the profit margin of imported ore has decreased slightly. In the week, the total shipment of iron ore in the SMM global market reached 31.71 million tons, down 4.3% from the previous week. Among them, the shipment from Australia was 18.39 million tons, down 8.4% from the previous week; the shipment from Brazil was 6.57 million tons, up 3% from the previous week. Brazil shipped 2.85 million tons to China, accounting for 43.4% of the total shipment from Brazil, up 1.8% from the previous week. The total amount of iron ore arriving in China has increased significantly by 24.55% from the previous week, returning to a high level. In addition, steel mills' pre-holiday procurement has basically ended, and market demand has decreased. Fundamentals provide weak support for ore prices, and it is expected that the profit margin of imported ore will continue to fluctuate.
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