SMM

According to SMM's imported ore cost and profit statement, the profit from imported ore has slightly declined. As news about crude steel production cuts has resurfaced, it is difficult to discern its authenticity, which has disrupted market sentiment. However, as the May Day holiday approaches, steel mills' restocking has not yet concluded, and spot demand remains robust, providing support for prices. It is expected that ore prices will remain firm before the holiday, and imported ore profits are likely to continue receiving support in the short term.