Report Overview - Report Title: Baocheng Futures Iron Ore Morning Report (August 1, 2025) - Report Author: Tu Weihua - Author's Position: Investment Consulting Department of Baocheng Futures - Author's Qualification: F3060359 (Industry Qualification), Z0011688 (Investment Consulting) 1. Report Industry Investment Rating - No industry investment rating is provided in the report. 2. Report's Core View - The iron ore market's supply - demand pattern is weakening. Steel mills' production is weakening, and the terminal consumption of ore is continuously declining. Although steel mills' profitability is good and there is still demand resilience to support the ore price, the overall ore supply is expected to increase. Therefore, the ore price is expected to continue the high - level shock consolidation trend, and attention should be paid to the trend of finished products [1][2]. 3. Summary According to Relevant Catalogs 3.1 Variety View Reference - For the iron ore 2509 contract, the short - term view is weak shock, the medium - term view is shock, and the intraday view is also weak shock. It is recommended to pay attention to the support at the MA20 line. The core logic is that the supply - demand pattern is weakening and the ore price continues to adjust [1]. 3.2 Market Driving Logic - The supply - demand pattern of iron ore has weakened. Steel mills' production is weakening, and the terminal consumption of ore is continuously declining. The relatively positive factor is that steel mills' profitability is good, and there is still demand resilience to support the ore price. The arrival of ore at domestic ports is currently low, but it is expected to bottom out and rebound according to the shipping schedule. Overseas miners are actively shipping at high ore prices, and domestic ore production is weakly stable. Overall, the ore supply will increase. With demand showing weakness and supply increasing, the fundamentals of the iron ore market are weakening. Coupled with poor market sentiment, the ore price is expected to continue the high - level shock consolidation trend, and attention should be paid to the trend of finished products [2].
宝城期货铁矿石早报-20250801
Bao Cheng Qi Huo·2025-08-01 01:09