铁矿：等待驱动

Supply Side - Global shipping volume has declined again, with noticeable decreases in shipments from Australia and Brazil, while non-mainstream regions have stabilized and rebounded [1][18][25] - The average daily iron water output from 247 samples is 240.32 million tons, down by 0.49 million tons compared to the previous period, with August's average at approximately 241 million tons [4][75] - Port inventory increased by 620,000 tons, with a slight decrease in the amount of cargo waiting to be shipped [1][114] Demand Side - Demand for iron water has slightly decreased, but the overall demand remains resilient, with construction material demand not experiencing a typical seasonal decline [1][93] - Steel mill profits have weakened slightly, but remain at a relatively high level [1][75] Inventory - Total inventory of the five major materials has slightly increased, with rebar inventory showing a small rise and hot-rolled coil inventory also increasing [1][104] - The total inventory of imported iron ore at steel mills increased by 12,400 tons, while the available days of imported ore decreased by one day to 20 days [122] Pricing and Cost - The average MA index for August is 100, corresponding to a market valuation of approximately 788 [148] - The price difference for various iron ore types shows a decline in the premium for Brazilian iron ore, while the premiums for mainstream mid-low grade ores remain stable [138][140] Shipping and Logistics - The shipping costs for maritime transport continue to show a strengthening trend [142] - The overall shipping volume from Australia’s major ports has shown mixed results, while Brazilian ports have remained stable [61][56]