Slight Decline in Imported Ore Profits; Expectations of Rebound Potential

Publicado: Nov 7, 2024 09:22
According to the SMM import ore cost and profit statement, profits from imported ore have declined slightly. Based on SMM research, on November 6, the blast furnace operating rate of the 242 steel plants surveyed by SMM was 90.60%, remaining flat from the previous week. The average daily molten iron output of the sampled steel plants was 2.4465 million tonnes, a decrease of 0.004 million tonnes from the previous week. The molten iron production in this cycle saw an unexpected decline, mainly due to temporary maintenance at some steel plants. Meanwhile, market sentiment fluctuations triggered by the U.S. presidential election have weakened market trends. However, the market still holds expectations for favorable policies that may be announced at domestic meetings. Therefore, it is expected that ore prices still have rebound potential after adjustment, and imported ore profits are expected to have a slight upward exploration space.

Declaração sobre a Fonte de Dados: Com exceção das informações publicamente disponíveis, todos os demais dados são processados pela SMM com base em informações publicamente disponíveis, comunicação de mercado e com base no modelo de base de dados interna da SMM. São apenas para referência e não constituem recomendações para a tomada de decisão.

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According to the SMM import ore cost and profit statement, profits fro - Shanghai Metals Market (SMM)