瑞达期货铁矿石产业链日报-20250616

Report Summary 1. Report Industry Investment Rating - Not provided in the content 2. Core View of the Report - On Monday, the I2509 contract fluctuated with a slight upward trend. The Middle - East situation is tense as on June 14, two refineries in Iran's southern Bushehr province were attacked by Israel, the first direct strike on Iran's energy infrastructure by Israel. The supply and demand situation shows that the shipments and arrivals of Australian and Brazilian iron ore have declined this period, while domestic port inventories have increased. The blast furnace operating rate of steel mills and the daily average hot metal output have continued to decline, weakening the support for iron ore demand. However, the tense Middle - East situation makes the market worry that Iran's iron ore production may be affected, which supports the short - term market. Technically, the 1 - hour MACD indicator of the I2509 contract shows that DIFF and DEA are running near the 0 - axis. The operation suggestion is to conduct intraday short - term trading, paying attention to rhythm and risk control [2]. 3. Summary According to Relevant Catalogs 3.1 Futures Market - The closing price of the I main contract is 704.50 yuan/ton, up 1.50 yuan; the position volume is 685,492 hands, down 10,148 hands. The I 9 - 1 contract spread is 29.5 yuan/ton, down 1.00 yuan; the net position of the top 20 in the I contract is - 37,842 hands, down 7,590 hands. The DCE warehouse receipt is 2,700 hands, unchanged. The quote of the Singapore iron ore main contract at 15:00 is 94.2 dollars/ton, up 0.04 dollars [2]. 3.2 Spot Market - The price of 61.5% PB fines at Qingdao Port is 782 yuan/dry ton, up 2 yuan; the price of 60.8% Mac fines at Qingdao Port is 761 yuan/dry ton, up 1 yuan. The price of 56.5% Super Special fines at Jingtang Port is 677 yuan/dry ton, up 1 yuan. The basis of the I main contract (Mac fines dry ton - main contract) is 56 yuan, unchanged. The 62% Platts iron ore index (previous day) is 94.60 dollars/ton, down 0.35 dollars. The ratio of Jiangsu scrap steel to 60.8% Mac fines at Qingdao Port is 3.56, down 0.02. The estimated import cost is 782 yuan/ton, down 3 yuan. The weekly shipment volume of Australian and Brazilian iron ore is 3,352.70 million tons, down 157.70 million tons; the weekly arrival volume at 47 ports in China is 2,517.50 million tons, down 156.40 million tons. The weekly inventory at 45 ports is 13,933.14 million tons, up 106.45 million tons; the weekly inventory of sample steel mills is 8,798.68 million tons, up 108.50 million tons [2]. 3.3 Industry Situation - The monthly import volume of iron ore is 9,813.10 million tons, down 500.90 million tons. The available days of iron ore are 22 days, up 5 days. The daily output of 266 mines is 38.98 million tons, up 0.50 million tons; the operating rate of 266 mines is 61.42%, up 0.23%. The inventory of iron concentrate in 266 mines is 58.33 million tons, down 4.46 million tons. The BDI index is 1,968.00, up 64.00. The freight rate of iron ore from Tubarao, Brazil to Qingdao is 26.26 dollars/ton, up 1.45 dollars; the freight rate from Western Australia to Qingdao is 10.97 dollars/ton, up 1.26 dollars [2]. 3.4 Downstream Situation - The weekly blast furnace operating rate of 247 steel mills is 83.39%, down 0.15%; the weekly blast furnace capacity utilization rate of 247 steel mills is 90.56%, down 0.07%. The monthly domestic crude steel output is 8,655 million tons, up 53 million tons [2]. 3.5 Option Market - The 20 - day historical volatility of the underlying is 13.38%, down 0.36%; the 40 - day historical volatility of the underlying is 18.96%, down 0.16%. The implied volatility of at - the - money call options is 18.33%, up 1.46%; the implied volatility of at - the - money put options is 17.94%, down 0.51% [2]. 3.6 Industry News - From June 9 to June 15, 2025, the global iron ore shipment volume was 3,352.7 million tons, down 157.7 million tons. The shipment volume from Australia and Brazil was 2,842.1 million tons, with Australia's shipment volume of 2,059.3 million tons, down 110.6 million tons (1,797.1 million tons to China, down 94.9 million tons) and Brazil's shipment volume of 782.8 million tons, up 33.2 million tons. The arrival volume at 47 ports in China was 2,517.5 million tons, down 156.4 million tons; the arrival volume at 45 ports was 2,384.5 million tons, down 224.8 million tons; the arrival volume at the six northern ports was 1,219.0 million tons, down 164.6 million tons [2].