宏观情绪改善且到港持续大降 铁矿石强势反弹走高

Core Viewpoint - The iron ore market is experiencing a rebound in risk appetite, with prices showing an upward trend due to a decrease in port inventories and positive macroeconomic sentiment [1][2]. Group 1: Market Performance - As of October 28, iron ore futures prices increased by 2.06%, reaching 793.5 yuan/ton [1]. - The total iron ore inventory at 47 Chinese ports is reported at 150.07 million tons, a decrease of 582,300 tons from the previous week [2]. - The total inventory at 45 ports stands at 143.11 million tons, reflecting a week-on-week decline of 577,300 tons [2]. Group 2: Supply and Demand Dynamics - Satellite data indicates that from October 20 to October 26, the total iron ore inventory at seven major ports in Australia and Brazil decreased by 147,000 tons, continuing the destocking trend [2]. - During the same period, global iron ore shipments totaled 33.884 million tons, an increase of 548,000 tons [2]. - Iron ore arrivals at 47 Chinese ports amounted to 20.843 million tons, down by 5.92 million tons week-on-week [2]. Group 3: Future Market Outlook - Analysts from Chao Dong Tian Cheng Futures suggest that while supply is increasing and demand remains weak, the recent drop in port inventories and improved macroeconomic conditions may lead to a short-term price increase [3]. - Hualian Futures reports that despite expectations of increased supply, the overall demand for iron ore is declining, and port inventories are likely to continue accumulating [3]. - Zhengxin Futures notes that the supply-demand structure is improving, with attention on the progress of the West Mangdu project, which may lead to increased supply [3].