宝城期货铁矿石早报-20250514

Report Summary 1. Investment Rating No investment rating for the industry is provided in the report. 2. Core View The report suggests that for the iron ore 2509 contract, the short - term, medium - term trend is sideways, and the intraday trend is slightly sideways down. It is recommended to pay attention to the pressure at the MA60 line as the fundamentals are likely to weaken and the upward driving force is not strong [1]. 3. Summary by Content 3.1 Variety View Reference - The short - term, medium - term trend of iron ore 2509 is sideways, and the intraday trend is slightly sideways down. The view is to pay attention to the pressure at the MA60 line, with the core logic being that the fundamentals are likely to weaken and the upward driving force is not strong [1]. 3.2 Market Driving Logic - The supply - demand pattern of iron ore has changed little. High terminal consumption of ore supports the ore price, but the steel market is facing seasonal weakness, limiting the increase in ore demand and weakening the positive effect. - Although the port arrivals and overseas miners' shipments are falling, the overall decline is not large, and domestic ore production is active, keeping the overall supply at a high level. - Due to the warming of market sentiment, the discounted ore price has rebounded from a low level. However, the increase in ore demand is limited, while the supply remains high. The fundamentals are still likely to weaken, and the upward driving force is expected to be weak. Attention should be paid to the performance of finished steel [2].