According to the cost-profit table of SMM imported ore, the profit of imported ore has declined slightly. SMM data shows that the total global iron ore shipments are 35.12 million tons, down 1.1% from the previous month. Among them, Australia's shipments are 19.67 million tons, down 6.6% from the previous month; Brazil's shipments are 8.74 million tons, up 8.6% from the previous month. Although the PMI index in June is lower than expected, the enhancement of macroeconomic policy expectations due to the upcoming Third Plenary Session has improved market sentiment and driven the price of ore to fluctuate upwards. However, given the current poor profits of steel mills and the planned blast furnace overhaul of some steel mills, it is expected that the upward trend of ore prices will face great resistance in the short term, and the profit of imported ore may remain weak and stable.