铁矿周报：铁水继续减少，铁矿震荡偏弱-20250603

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - The overseas shipment volume of iron ore decreased week - on - week last week but remained at the highest level in the same period of the past three years, while the arrival volume increased week - on - week. On the demand side, due to the increase in furnace shutdown and maintenance during the off - season of steel mills recently, the molten iron output continued to decline. As the demand for steel products entered the off - season and the molten iron output decreased, it is expected that iron ore will fluctuate weakly [1][5]. 3. Summary by Relevant Catalogs 3.1 Transaction Data | Contract | Closing Price | Change | Change Rate (%) | Total Trading Volume (Lots) | Total Open Interest (Lots) | Price Unit | | --- | --- | --- | --- | --- | --- | --- | | SHFE Rebar | 2961 | - 19 | - 0.64 | 9514050 | 3170785 | Yuan/ton | | SHFE Hot - Rolled Coil | 3076 | - 35 | - 1.13 | 3363117 | 1552234 | Yuan/ton | | DCE Iron Ore | 702.0 | 3.5 | 0.50 | 2120072 | 716254 | Yuan/ton | | DCE Coking Coal | 726.0 | - 73.5 | - 9.19 | 3455596 | 634111 | Yuan/ton | | DCE Coke | 1308.0 | - 56.0 | - 4.11 | 134599 | 59538 | Yuan/ton | [2] 3.2 Market Review - Demand Side: Recently, due to the increase in furnace shutdown and maintenance during the off - season of steel mills, the molten iron output continued to decline. Last week, the blast furnace operating rate of 247 steel mills was 83.87%, a week - on - week increase of 0.18 percentage points and a year - on - year increase of 2.22 percentage points; the blast furnace iron - making capacity utilization rate was 90.69%, a week - on - week decrease of 0.63 percentage points and a year - on - year increase of 2.52 percentage points; the steel mill profitability rate was 58.87%, a week - on - week decrease of 0.87 percentage points and a year - on - year increase of 6.06 percentage points; the daily average molten iron output was 2.4191 million tons, a week - on - week decrease of 16,900 tons and a year - on - year increase of 60,800 tons [4]. - Supply Side: Last week, the overseas shipment volume decreased week - on - week but was at the highest level in the same period of the past three years, and the arrival volume increased week - on - week. The total global iron ore shipment volume last week was 3.1887 million tons, a week - on - week decrease of 159,100 tons. The total iron ore shipment volume from Australia and Brazil was 2.79 million tons, a week - on - week increase of 14,500 tons. The total Australian shipment volume was 2.0132 million tons, a week - on - week increase of 124,500 tons, among which the volume shipped from Australia to China was 1.7812 million tons, a week - on - week increase of 146,200 tons. The total Brazilian shipment volume was 776,800 tons, a week - on - week decrease of 110,000 tons. The iron ore shipment volume from 19 ports in Australia and Brazil was 2.7292 million tons, a week - on - week increase of 23,100 tons. The Australian shipment volume was 1.9708 million tons, a week - on - week increase of 143,100 tons, among which the volume shipped from Australia to China was 1.7425 million tons, a week - on - week increase of 163,500 tons. The Brazilian shipment volume was 758,300 tons, a week - on - week decrease of 120,000 tons. In terms of inventory, the inventory of imported iron ore at 47 ports across the country was 14.46958 million tons, a week - on - week decrease of 122,250 tons; the daily average port clearance volume was 338,780 tons, a decrease of 4,410 tons [1][5]. 3.3 Industry News - On the 25th local time, US President Trump said that the EU requested to extend the tariff negotiation deadline to July 9th, and he had agreed to this request. Trump said that the conversation with the EU on tariff issues was "very pleasant." On the 23rd, Trump posted on social media that he proposed to impose a 50% tariff on goods from the EU starting from June 1st [9]. - The National Bureau of Statistics reported that from January to April, the total profit of industrial enterprises above the designated size in the country reached 2.11702 trillion yuan, a year - on - year increase of 1.4%, 0.6 percentage points faster than that from January to March. Among them, the steel industry made a profit of 1.692 billion yuan from January to April [9]. - The US Federal Court on May 28th local time blocked the tariff policy announced by US President Trump on April 2nd (Liberation Day) from taking effect and ruled that Trump's act of imposing comprehensive tariffs on countries with more exports than imports to the US exceeded his authority [9]. 3.4 Relevant Charts The report provides multiple charts related to the iron and steel industry, including the futures and spot price trends of rebar, hot - rolled coils, and iron ore, the basis trends, steel mill profit situations, steel production and inventory data, and iron ore shipment, arrival, and inventory data [8][10][12][14].