9,347.17 TL BIST 100 BIST 100
31.01 $ USD USD
€33.67 EUR EUR
4.34 CNY CNY CNY
0.13 CNY CNY/EUR CNY/EUR
43.42 TL Interest Interest
83.25 $ Fossil Oil Fossil Oil
22.62 $ Silver Silver
3.88 $ Copper Copper
121.11 $ Iron Ore Iron Ore
394.00 $ Ship Dismantling Ship Dismantling
2,023.50 TL Gold (gr) Gold (gr)

Cost hike cuts Chinese imported ore profits

Despite the stable spot price at the port, the landing profit of imported ore has decreased significantly.

Cost hike cuts Chinese imported ore profits

The latest imported iron ore profit statement shocked the industry, revealing an alarming decline for all grades. The main reason for this decline is the cost increase due to premiums, transportation charges and fluctuations in the China Central Bank (CCB) exchange rate. Despite the stable spot price at the port, the disembarkation profit of imported ore decreased significantly.

Looking ahead, there are mixed signals in the market. Both overseas shipment and arrival volumes are expected to increase, while port stocks continue to build, creating a more comfortable supply environment. However, the demand side continues to be a concern as iron production has been on a steady decline this week. Concerns are growing that new environmental production restrictions imposed in the Tangshan region will further dampen iron ore demand.

However, industry insiders remain cautiously optimistic, suggesting that the ore price will remain volatile amid strong expectations for a key meeting scheduled for mid-December. This highly anticipated event is seen as a potential trigger for a market revival and could provide much-needed relief for traders of imported ore.

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