Cost and profit of imported ore on May 9

According to SMM's profit statement for imported ore, the profit of imported ore fell again; according to SMM's survey, on May 8, SMM's blast furnace operating rate was 92.53%, an increase of 0.4% month-on-month. The capacity utilization rate stood at 93.95%, up 0.42 percentage point WoW. The daily average pig iron output of the steel mills in SMM’s survey sample stood at 2.247 million mt, an increase of 10,700 mt from the previous week. The output of pig iron continued to rise, and the market's concerns about oversupply of finished products increased. Coupled with the high valuation of iron ore, prices have been adjusted recently. We need to pay attention to the changes in the demand and inventory of finished products. It is expected that the profits of imported ore will still have room for decline.