供应端未来有一定增加预期 铁矿石期货震荡运行

Core Viewpoint - Iron ore futures are showing a strong performance, with the main contract slightly up by 0.89% to 794.0 yuan/ton as of the report date [1] Group 1: Project Developments - Macro Metals announced that its Extension iron ore project in Western Australia is actively progressing, aiming for "excavation readiness" by 2026. The project has indicated resources of 161 million tons with an average iron grade of approximately 54.2%, and an annual production capacity of 2-4 million tons [2] Group 2: Inventory and Consumption Statistics - The total imported iron ore inventory at 45 national ports is 140.245 million tons, an increase of 242,200 tons month-on-month. The total imported iron ore inventory at 47 ports is 146.411 million tons, up by 904,000 tons month-on-month [2] - The total imported iron ore inventory at steel mills is 90.462 million tons, a decrease of 9.906 million tons month-on-month. The daily consumption of imported ore by sample steel mills is 2.9914 million tons, an increase of 34,000 tons month-on-month, with a stock-to-consumption ratio of 30.24 days, down by 3.35 days [2] Group 3: Market Analysis - According to Guoxin Futures, the supply and demand for iron ore are both strong. The demand side is supported by high steel production, maintaining robust iron ore demand. However, there is an expectation of reduced production from steel mills due to high inventory pressure, which may put some pressure on iron ore demand. Supply is expected to increase, leading to a relatively weak outlook for iron ore [3] - Zhongzhou Futures noted that the weekly production and consumption of the five major materials have decreased, leading to an accumulation of total inventory. Although pig iron production has slightly decreased, it remains at a high level, with port inventories accumulating. Real estate sales and construction data remain poor, while steel exports show resilience but face trade protection from some countries. From January to August, both imported and domestic iron ore have decreased year-on-year [3]