On June 20, according to SMM's imported ore cost and profit statement, the profit from imported ore remained basically flat. From yesterday's industrial data, the apparent consumption of the five major steel products improved overall, with demand for plate and coil rising significantly MoM. Rebar consumption only dropped back slightly under the influence of heavy rain and the senior high school entrance examination. It is worth noting that, against the backdrop of growing total production, steel inventory continued to decline, providing support for the prices of overall ferrous metals and causing iron ore prices to stop falling and stabilize. However, considering the characteristics of the industry's off-season and the pressure from high production, the market still has concerns about the "negative feedback" mechanism. It is expected that ore prices will lack sustained rebound momentum in the short term and may continue to fluctuate rangebound, with imported ore profits also expected to remain volatile.