Iron Ore Imports Remain Unprofitable Amid High Inventories and Weak Demand

Publicado: Aug 19, 2024 10:14
According to the SMM import ore cost profit table, the profit of imported ore is still relatively weak; as of August 16, the inventory of 35 ports tracked by SMM reached 147.16 million tons, an increase of 490,000 tons from the previous month and 29.83 million tons from the same period last year. The average daily port unloading volume of imported ore was 3.086 million tons, an increase of 120,000 tons from the previous month but a decrease of 88,000 tons from the same period last year. This week, iron ore prices fell to a new low, and steel mills replenished stocks at a low level, and the increase in spot trading volume drove the port unloading volume to continue to rise. This indicates that iron ore demand is still supported. Considering that it is difficult for terminal demand to improve substantially, it is expected that ore prices will continue to fluctuate at a low level, and the profit of imported ore is expected to remain weak and fluctuate.

Declaração sobre a Fonte de Dados: Com exceção das informações publicamente disponíveis, todos os demais dados são processados pela SMM com base em informações publicamente disponíveis, comunicação de mercado e com base no modelo de base de dados interna da SMM. São apenas para referência e não constituem recomendações para a tomada de decisão.

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According to the SMM import ore cost profit table, the profit of impor - Shanghai Metals Market (SMM)