宝城期货铁矿石早报-20250814

Report Summary 1. Investment Rating - The report does not provide an investment rating for the industry [1] 2. Core View - The iron ore 2601 contract is expected to be oscillating and slightly stronger in the short - term and intraday, and oscillating in the medium - term. It is recommended to pay attention to the support level of MA5. The core logic is that the supply - demand pattern is good and the ore price remains at a high level [1] 3. Summary by Related Content 3.1 Market Driving Logic - The supply - demand pattern of iron ore is relatively good. Although steel mills' production is weakening and the terminal consumption of ore is decreasing, the steel mills' profitability is good, demand remains relatively high with certain resilience, which supports the ore price. Meanwhile, the arrival of ore at domestic ports has declined again, overseas miners' shipments have decreased, and domestic ore production is weakening, resulting in weak supply. Under the situation of weak supply and demand, the fundamentals of iron ore are stable. The good profitability of steel mills and the resilient demand strongly support the ore price. The relatively negative factor is the relatively high valuation, and the short - term trend will maintain high - level oscillation. Attention should be paid to the performance of finished steel products [2]