Iron Ore Import Profits Slightly Down Amidst Slow Output Growth and Budgetary Uncertainty

Publicado: Oct 24, 2024 09:33
According to the SMM imported ore cost and profit statement, the profit of imported ore has decreased slightly; According to SMM research, on October 23, the blast furnace operating rate of 242 steel plants counted by SMM was 90.60%, up 0.13% from the previous month. The average daily output of molten iron from sampled steel plants was 2.4509 million tons, an increase of 27,000 tons from the previous month. The increase in molten iron output was slightly less than expected. In addition, a rumor circulated that the meeting of the Standing Committee of the National People's Congress is not expected to increase the budget for 2024. Sentiment in the market is pessimistic, and it is expected that iron ore prices may weaken and fluctuate in the short term, and the profit of imported ore may decrease slightly.

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