Publicado: May 24, 2024 18:11
【SMM Iron Ore Weekly Report】Next week, the overseas shipment and arrivals will remain high. However, due to the maintenance of a large blast furnace, the production of molten iron may experience a slight decline. Coupled with the average profits of steel mills and the low enthusiasm for replenishment, the expected port discharge volume will decline. The port inventory may continue to accumulate, suppressing spot prices. In addition, the demand for building materials may continue to decline slightly due to seasonal factors such as the agricultural busy season. Coupled with the growth in electric furnace profits and the increase in operating rates, the supply of building materials has increased significantly. However, the apparent demand for building materials may decline, and the risk of inventory accumulation has increased. Steel mill profits may further contract. However, considering the current macroeconomic policies are leaning towards the positive, which provides support for iron ore prices, it is expected that iron ore prices will continue to fluctuate next week, but the price focus may shift downwards...

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