Imported Ore Profit Margin Edges Up Amid Rising Port Pick-ups and Inventory Accumulation

Опубликовано: Jan 13, 2025 09:53
According to the SMM Imported Ore Cost and Profit Table, the profit margin of imported ore slightly increased. As of January 10, SMM monitoring data showed that the total inventory at 35 ports reached 146.33 million mt, up 1.1 million mt WoW and up 23.48 million mt YoY. The daily average iron ore port pick-up volume was 3.149 million mt, up 69,000 mt WoW and up 150,000 mt YoY. This week, port arrivals increased significantly. On the demand side, according to SMM tracking surveys, pig iron production from steel mill blast furnaces rose significantly this week. Combined with stockpiling activities by steel mills ahead of the Chinese New Year, this drove up port pick-up volumes. However, due to the significant increase in port arrivals, port inventory showed an accumulation trend. Looking ahead to next week, considering that pig iron production from steel mill blast furnaces is still rising, port pick-up volumes are expected to continue increasing, while port inventory may see a slight decline. This is expected to provide some support to ore prices, and the profit margin of imported ore may have some room for further increase.

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