Core Insights - The iron ore market is experiencing fluctuations in both supply and demand, with recent data indicating a rebound in iron ore futures prices due to macroeconomic factors and supply chain dynamics [7] Supply - Global iron ore shipments increased to 33.884 million tons, up by 0.549 million tons week-on-week, while the port arrival volume decreased to 20.291 million tons, down by 0.490 million tons [5] - The monthly import volume for September reached 116.326 million tons, reflecting a month-on-month increase of 1.101 million tons [5] Demand - As of October 23, the average daily pig iron production was 2.399 million tons, a decrease of 10,500 tons week-on-week, while the blast furnace operating rate was 84.71%, up by 0.44% [4] - The profitability of steel mills dropped to 47.62%, down by 7.79% from the previous period, indicating pressure on steel mill operations and weakening replenishment demand [4] Inventory - Port inventories are increasing, with a total of 144.236 million tons at 45 ports, up by 1.4532 million tons week-on-week [6] - The average daily dispatch volume from ports decreased to 3.1265 million tons, down by 30,700 tons week-on-week, while steel mill inventories rose to 90.792 million tons, an increase of 964,700 tons [6] Market Outlook - The iron ore futures market showed a rebound, with the main contract closing at 792.5 yuan/ton, up by 6.0 yuan (+0.76%) [2] - The recent progress in US-China negotiations has positively influenced market sentiment, leading to expectations of improved demand and a potential bottoming out of iron ore prices [7]
铁矿石：发运、到港下滑 港存增加 铁水略降 铁矿延续反弹
Jin Tou Wang·2025-10-29 02:08