Iron Ore Market: Supply Rebounds but Faces Decline Due to Weather, Demand Trends Downwards

Publicado: Dec 17, 2024 09:51
According to SMM's imported ore cost-profit table, imported ore profits remained basically flat. SMM shipping data showed that global iron ore shipments totaled 31.96 million mt, up 15.3% MoM. Among them, Australian shipments reached 18.59 million mt (up 22.9% MoM), and Brazilian shipments were 6.28 million mt (up 11.3% MoM). This week, iron ore supply showed a significant rebound, with a notable increase from Australia. Recent heavy rains in Australia have affected some shipments, and iron ore supply is expected to shrink next week. Meanwhile, port arrivals remained stable this week with relatively small fluctuations. Considering the previous shipment reductions and the impact of domestic rain and snow this week, port arrivals are expected to decline next week. In the short term, shipments from both Australia and Brazil face influencing factors, and iron ore supply is expected to decrease. At the same time, blast furnace maintenance at steel mills continues to increase, and iron ore demand is also expected to maintain its downward trend. With both supply and demand weakening, iron ore is likely to experience high-level fluctuations this week, and imported ore profits are also expected to fluctuate.

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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