宝城期货铁矿石早报-20250430

Report Summary 1) Report Industry Investment Rating - No investment rating information is provided in the report. 2) Core View of the Report - The iron ore price is expected to continue its low - level oscillating trend. The report suggests paying attention to the performance of steel products and the pressure at the MA5 line [2][3]. 3) Summary by Relevant Catalogs Variety View Reference - For the iron ore 2509 contract, the short - term view is oscillating, the medium - term view is oscillating, and the intraday view is weakly oscillating. The reference view is to focus on the pressure at the MA5 line, with the core logic being that the fundamentals are weakly stable and the ore price is oscillating at a low level [2]. Market Driving Logic - Steel mills are actively producing, and the demand for ore is good, which supports the ore price. However, the high demand has not led to inventory depletion because the supply has returned to a high level. There are concerns that the post - holiday demand may reach its peak, the fundamental outlook is weakening, and risk appetite is weakening before the holiday. Therefore, the ore price is expected to continue its low - level oscillating trend [3].