Imported iron ore margin narrows to 0.04 yuan/mt

The average imported iron ore margin narrowed to 0.04 yuan/mt in the latest period, down from 8.72 yuan/mt, due to lower port spot prices and higher freight.

Iron ore supply is rising while demand is falling, and stocks at major Chinese ports reached 148.05 million mt, according to SMM data.

The narrowing margin may impact seafarers' earnings, but the direct effect is limited.