Imported Ore Profit Shows Slight Rise Despite Weak Fundamentals, Market Expectations Strengthen

Publicado: Nov 28, 2024 09:36
According to the SMM imported ore cost-profit table, the profit of imported ore rose slightly. According to the SMM survey, as of November 27, the operating rate of blast furnaces in 242 steel mills surveyed by SMM was 89.16%, down 0.67% MoM. The capacity utilisation rate of blast furnaces was 89.75%, down 0.80% MoM. The daily average pig iron production of the sample steel mills was 2.4 million mt, down 21,500 mt MoM. The fundamentals of iron ore continued to weaken. However, market rumors suggest that the Politburo meeting in December may be held earlier, which has strengthened market expectations. Additionally, some steel mills have started purchasing imported cargo to increase inventory, providing strong support for ore prices. In the short term, the profit of imported ore is expected to have some upward potential.

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According to the SMM imported ore cost-profit table, the profit of imp - Shanghai Metals Market (SMM)