Report Summary 1. Investment Rating No investment rating for the industry is provided in the report. 2. Core Viewpoint The demand for iron ore has good resilience, supporting the high - level operation of ore prices. However, the supply of iron ore is increasing, and there is an expectation of a weakening in the fundamentals. Under the game of long and short factors, it is expected that the ore price will continue to oscillate and consolidate at a high level, and attention should be paid to the performance of finished products [2][3]. 3. Section Summaries 3.1 Variety Viewpoint Reference - For the iron ore 2509 contract, the short - term view is oscillating and slightly stronger, the medium - term view is oscillating, and the intraday view is oscillating and slightly weaker. It is recommended to pay attention to the support at the MA5 line. The core logic is that the demand has good resilience, and the ore price is operating at a high level [2]. 3.2 Market Driving Logic - On the supply side, the arrival of ore at domestic ports has increased significantly, the shipment of overseas miners has decreased again (but the sustainability of the decrease at high ore prices needs to be tracked), and domestic ore production is weakly stable, so the ore supply continues to show a steady - to - rising trend. - On the demand side, steel mill production is weakening, the terminal consumption of ore is continuously weakening with an expanding decline, but the profitability of steel mills is good, and the demand has some resilience, which supports the ore price [3].
宝城期货铁矿石早报-20250805
Bao Cheng Qi Huo·2025-08-05 01:43