宝城期货铁矿石早报-20250528

Report Summary 1) Report Industry Investment Rating No relevant content provided. 2) Core Viewpoints of the Report - The iron ore market's supply - demand fundamentals have changed. The market is bearish in the short - term, and the ore price is expected to continue the downward trend in a volatile manner. Attention should be paid to the decline in hot metal production [1][2]. 3) Summary by Related Catalogs Variety Viewpoint Reference - For the iron ore 2509 contract, the short - term outlook is weakly volatile, the medium - term is volatile, and the intraday view is also weakly volatile. It is recommended to pay attention to the pressure at the MA5 line. The core logic is the weakening supply - demand pattern and the downward pressure on ore prices [1]. Market Driving Logic - The demand for iron ore is weakening as steel mills' production slows down during the off - season, and the terminal consumption of ore continues to decline. On the supply side, port arrivals are increasing, overseas miners' shipments remain high, and domestic ore production is active, leading to a large supply pressure. As a result, the iron ore fundamentals are continuously weakening, and the ore price is under pressure [2].