Iron Ore Imports Profit Margins Narrow Slightly Amid Global Supply Decline; Outlook Mixed on Price Rebound

Publicado: Sep 3, 2024 09:53
According to SMM's imported ore cost-profit statement, the profit of imported ore declined slightly. SMM shipping data showed that the total global iron ore shipments last week amounted to 29.73 million tons, a decrease of 12.2% from the previous week. Among them, shipments from Australia and non-mainstream mines declined significantly; however, shipments from Brazil increased by 14.6% compared with the previous week. The total arrivals decreased slightly by 4.74% month-on-month. On the whole, the global iron ore supply has decreased. Keeping an eye on the rise of molten iron this week, it is expected that the fundamentals of iron ore will improve. In addition, considering the expected monetary policy, iron ore prices may rise, and the profits of imported ore may rebound in the short term.

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