Cost and profit of imported ore on May 7

Published: May 7, 2024 16:01

Source: SMM

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According to SMM's imported ore profit, iron ore profits declined due to increased costs; according to SMM shipping data, global shipments last week were 33.74 million tons, up 6.4% WoW, with shipments from Australia and Brazil both increasing slightly, but the proportion to China slightly declined. The proportion of non-mainstream minerals shipped and shipped to China increased slightly. However, affected by weather conditions, the volume arriving at the port dropped sharply to 23.09 million tons. On the demand, there will still be a certain increase in the future, and both supply and demand of iron ore will be strong. In addition, there are news in the market that 92.13 billion yuan of special bonds were issued in the first week of May, exceeding the volume in April. The market interprets this as an acceleration in the pace of capital landing, which will boost market confidence. Iron ore prices went all the way up. Taking into account the inventory pressure at ports and the high valuation of iron ore, the profits may fluctuate.

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