宝城期货铁矿石早报-20250725

Group 1: Report Industry Investment Rating - Not provided Group 2: Core Viewpoints of the Report - The iron ore price is expected to maintain a volatile adjustment, and attention should be paid to the support level of MA10. The supply - demand pattern is changing, and the price is adjusting with fluctuations [1]. - The optimistic sentiment is weakening, the high - valued iron ore price is falling with fluctuations, but the fundamentals are still acceptable under the situation of weak supply and strong demand, and the downward space may be limited. The performance of finished steel should be monitored [2]. Group 3: Summary by Related Catalogs Variety Viewpoint Reference - For iron ore 2509, the short - term and medium - term trends are both volatile, and the intraday trend is slightly bullish. The core logic is that the supply - demand pattern is changing, and the price is adjusting with fluctuations. Attention should be paid to the support at the MA10 line [1]. Market Driving Logic - The supply - demand pattern of iron ore has changed. Steel mill production is weakly stable, and the terminal consumption of ore has slightly declined. However, the profitability of steel mills is good, and the demand for ore has certain resilience, which supports the price. - The arrival of ore at domestic ports has dropped significantly, while the shipment of overseas miners has started to rise. According to the shipping schedule, the domestic arrival will still decrease, and the short - term supply of overseas ore is difficult to increase. The domestic ore production is rising steadily, and the overall supply remains at a relatively low level [2].