Core Viewpoint - Iron ore futures prices are under pressure due to weak supply and demand fundamentals, with a recommendation for investors to avoid chasing high prices and maintain a low inventory strategy [2][3]. Group 1: Market Performance - As of November 14, 2025, iron ore futures closed at 772.5 CNY/ton, with a weekly increase of 0.91% [1]. - The weekly trading range for iron ore futures was between 762.5 CNY/ton and 780.5 CNY/ton, with a lowest point of 756.5 CNY/ton [1]. Group 2: Inventory and Consumption - National steel mills' imported iron ore inventory reached 90.76 million tons, an increase of 660,700 tons week-on-week [2]. - The daily consumption of imported ore by sample steel mills was 2.93 million tons, up by 39,300 tons from the previous week [2]. - The inventory-to-consumption ratio stands at 31.02 days, a decrease of 0.19 days [2]. Group 3: Transaction Data - On November 13, the total iron ore transactions at major ports reached 1.05 million tons, a week-on-week increase of 6.28% [2]. - The forward spot index for 62% Australian iron ore was 102.55 USD/dry ton, down by 0.05, with a monthly average of 102.72 [2]. Group 4: Institutional Insights - Guodu Futures noted that the recent U.S. government funding bill has ended a prolonged government shutdown, but the iron ore market remains under pressure due to declining shipments and production [2]. - CICC Wealth Futures indicated that while macro sentiment is improving, the long-term supply-demand balance remains loose, predicting limited rebound space for iron ore prices [3].
中长期供需宽松格局未改 预计铁矿石维持震荡走势
Jin Tou Wang·2025-11-17 00:58