【SMM Iron Ore Weekly Report】Next week, the maintenance of berths at Au

Published: May 17, 2024 18:08

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【SMM Iron Ore Weekly Report】Next week, the maintenance of berths at Australian ports will be completed. However, due to the impact of Rio Tinto's train derailment, it may be difficult for Australia to increase its shipment volume. It is estimated that the global shipment volume will remain stable or decline slightly. However, given the high shipment volume in the early stage, the arrival volume is still expected to increase. Taking into account the narrowing of the increase in molten iron production next week, it is estimated that the daily increase in port congestion will be limited, and port inventory may continue to accumulate. This may pressure iron ore prices. In addition, sentiment may consolidate after being stimulated in the short term. It is expected that iron ore prices will continue to fluctuate next week.

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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