Core Viewpoint - The iron ore market is experiencing fluctuations in prices and inventory levels, with a focus on supply-demand dynamics and the impact of production cuts on future pricing trends [6]. Supply - Global iron ore shipments decreased by 1.37 million tons to 30.505 million tons, with Australian and Brazilian shipments totaling 25.404 million tons, down by 2.179 million tons [4]. - Australian shipments were 17.692 million tons, a decrease of 2.26 million tons, with shipments to China at 15.184 million tons, down by 1.289 million tons [4]. - Brazilian shipments increased by 0.08 million tons to 7.712 million tons [4]. Demand - Daily average pig iron production reached 2.4542 million tons, an increase of 10,700 tons month-on-month [3]. - The blast furnace operating rate was 84.33%, unchanged from the previous period [3]. - The capacity utilization rate for blast furnace ironmaking was 92%, up by 0.4 percentage points [3]. - Steel mill profit margins were 56.28%, down by 1.3 percentage points [3]. Inventory - As of April 30, total inventory at 45 ports was 1,430.248 million tons, an increase of 414,800 tons [5]. - Steel mills' imported ore inventory rose by 2.6202 million tons to 93.3505 million tons, indicating significant pre-holiday stockpiling [5]. Market Outlook - The iron ore market is under pressure due to administrative production cuts, with uncertainty regarding the extent and form of these cuts [6]. - The average daily iron production continues to rise, reaching historical highs, while downstream material inventory is being reduced [6]. - The future of iron ore prices will depend on terminal demand, with potential pressure from increased overseas shipments expected in May and June [6].
铁矿石:铁水维持高位 港口延续累库
Jin Tou Wang·2025-05-07 02:10