Imported iron ore margin narrows to 0.04 yuan/mt

AI Summary

The average margin on imported iron ore narrowed sharply to 0.04 yuan per metric ton, pressured by weaker port spot prices and higher freight costs. Rising supply and falling demand are contributing to the pressure, while stocks at 35 major Chinese ports were reported at 148.05 million metric tons.

The average imported iron ore margin narrowed from 8.72 yuan/mt to 0.04 yuan/mt in the latest period, weighed down mainly by lower port spot prices and higher freight. Iron ore currently faces rising supply and falling demand. The latest SMM data showed iron ore stocks at 35 major ports across China at 148.05 million mt, ...