铁矿石周报：需求韧性仍存，铁矿区间震荡-20250810

Report Title - The report is titled "Hualian Futures Iron Ore Weekly Report: Demand Resilience Remains, Iron Ore Ranges Sideways" [1] Report Industry Investment Rating - Not provided in the report Core Viewpoint - The current overseas mines are in the shipping off - season, and the demand side has strong resilience, which supports the iron ore price. It is expected that the iron ore price will maintain a range - bound oscillation in the short term [4] Summary by Directory 1. Supply - Global Shipping Volume: From July 28 to August 3, 2025, the global iron ore shipping volume decreased by 139,100 tons week - on - week to 3.0618 million tons. The shipping volume from non - mainstream regions increased by 74,800 tons week - on - week to 597,900 tons [4][50] - Australia and Brazil Shipping: Australia's 19 ports shipped 1.7212 million tons, a week - on - week decrease of 72,300 tons; Brazil's 19 ports shipped 742,700 tons, a week - on - week decrease of 141,600 tons [4][47] - Arrival Volume in China: From July 28 to August 3, 2025, the arrival volume at China's 45 ports increased by 267,300 tons week - on - week to 2.5078 million tons; the total arrival volume at the six northern ports was 1.2531 million tons, a week - on - week increase of 95,800 tons [4][59] - Domestic Mine Supply: As of August 8, 2025, the capacity utilization rate of 126 mine enterprises was 62.06%, a week - on - week decrease of 0.36%; the daily output of iron concentrate powder was 39,160 tons per day, a decrease of 2,200 tons from the previous week [75] 2. Demand - Steel Mill Indicators: As of August 8, 2025, the profitability rate of 247 steel mills was 68.4%, a week - on - week increase of 3.03%; the blast furnace operating rate was 83.75%, a week - on - week increase of 0.29%; the daily average hot metal output decreased by 3,900 tons week - on - week to 240,320 tons, but the demand resilience remained [4][78][95] - Transaction Volume: The daily average trading volume of iron ore forward spot and the total trading volume at major Chinese ports are presented in the report, but specific data trends are not described in detail [80] - Steel Product Output and Consumption: The output and consumption of rebar and hot - rolled coils are shown in the report, but specific data trends are not described in detail [83][85] 3. Inventory - Port Inventory: As of August 8, 2025, the inventory of imported iron ore at 45 ports in China was 13.71227 million tons, a week - on - week increase of 54,370 tons. The inventory of Australian ore was 6.1381 million tons, a week - on - week increase of 141,250 tons; the inventory of Brazilian ore was 4.87207 million tons, a week - on - week increase of 29,000 tons [4][25][29] - Steel Mill Inventory: The steel mill's imported iron ore inventory was 9.01334 million tons, a week - on - week increase of 1,250 tons. The average available days of imported ore inventory for a small sample of steel mills was 20 days, a decrease of 1 day from the previous week [4][43] 4. Strategy - Go long on the Iron Ore 2601 contract on dips, with a reference support level of 750 yuan/ton [4]