Imported Ore Profits Soar as Maintenance Cuts Boost Demand; China's Real Estate Policies Stoke Market Sentiment, Fueling Ore Price Rally

Publicado: Sep 25, 2024 09:50
According to the SMM imported ore cost-profit statement, profits from imported ore have increased significantly; based on SMM statistics, this week's production reduction due to blast furnace maintenance amounted to 93,300 tonnes, marking a notable decline compared to last week. It is projected that the reduction will continue to expand next week, driving up iron ore demand. Additionally, most steel mills have restocking needs before the holiday, providing strong support for ore prices. Simultaneously, the People's Bank of China announced a series of real estate policies today aimed at stabilizing growth, including reductions in down payments and interest rates for existing home loans, boosting overall market sentiment and leading to notable gains in trading. In the short term, ore prices may continue to experience a bullish and volatile trend, and profits from imported ore still have room for further growth.

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