宝城期货铁矿石早报-20250529

1. Report Industry Investment Rating - There is no information about the industry investment rating in the report. 2. Core Viewpoints of the Report - For the iron ore 2509 contract, the short - term and medium - term trends are expected to be in a sideways pattern, while the intraday trend is expected to be slightly bullish. Attention should be paid to the pressure at the MA5 line. The core logic is that the positive factors for demand are weakening, and the ore price is oscillating at a low level [1]. - The supply - demand situation of iron ore has changed. Steel mill production is weakening during the off - season, leading to a continuous decline in ore demand and a weakening of positive effects. Meanwhile, port arrivals have slightly increased, overseas miners' shipments remain high, and domestic ore production is active, resulting in high ore supply. The situation of strong supply and weak demand puts pressure on the ore price. However, the deep discount of the futures price provides some resistance to the downward movement. Under the game of multiple and short factors, the ore price has entered a low - level sideways pattern, and the performance of finished steel products should be monitored [2]. 3. Summary by Relevant Catalogs 3.1 Variety Viewpoint Reference - For the iron ore 2509 contract, the short - term trend is sideways, the medium - term trend is sideways, and the intraday trend is slightly bullish. The reference view is to pay attention to the pressure at the MA5 line, and the core logic is that demand positives are weakening and the ore price is oscillating at a low level [1]. 3.2 Market Driving Logic - The supply - demand sides of iron ore have changed. Steel mill production is weakening during the off - season, ore demand is declining, and the positive effect is weakening. Port arrivals have increased slightly, overseas miners' shipments are high, and domestic ore production is active, so the supply pressure remains. The situation of strong supply and weak demand puts pressure on the ore price. The deep discount of the futures price provides resistance to the downward movement. Under the game of multiple and short factors, the ore price is in a low - level sideways pattern, and the performance of finished steel products should be noted [2].