宝城期货铁矿石早报-20250815

Report Summary 1) Report Industry Investment Rating No relevant content provided. 2) Core Viewpoints of the Report - The short - term, medium - term, and intraday views of Iron Ore 2601 are "oscillation", "oscillation", and "oscillation with a slight upward bias" respectively. It is recommended to pay attention to the support level of MA20. The core logic is the market sentiment shift and the high - level adjustment of ore prices [1]. - The current supply - demand pattern of iron ore has changed little. The steel mills' production is stable, the terminal consumption of ore has slightly increased, and the steel mills' profitability is good, so the demand remains at a relatively high level with good resilience, which supports the ore price. At the same time, the arrival of ore at domestic ports has declined again, the overseas miners' shipments have decreased, and domestic ore production has weakened, resulting in weak ore supply. Currently, the iron ore fundamentals are good under the situation of weak supply and stable demand, but the relatively negative factors are the high valuation and the weakening market sentiment. In the short term, the ore price will continue the high - level adjustment trend, and the performance of finished steel should be monitored [2]. 3) Summary by Relevant Catalogs Variety Viewpoint Reference - For Iron Ore 2601, the short - term view is oscillation, the medium - term view is oscillation, and the intraday view is oscillation with a slight upward bias. The reference suggestion is to pay attention to the support level of MA20, and the core logic is the market sentiment shift and the high - level adjustment of ore prices [1]. Market Driving Logic - The market sentiment has shifted, leading to a collective decline in ferrous metals and a high - level decline in ore prices. The supply - demand pattern of iron ore has changed little. The steel mills' production is stable, the terminal consumption of ore has slightly increased, and the steel mills' profitability is good, so the demand remains at a relatively high level with good resilience, which supports the ore price. The arrival of ore at domestic ports has declined again, the overseas miners' shipments have decreased, and domestic ore production has weakened, resulting in weak ore supply. Under the situation of weak supply and stable demand, the iron ore fundamentals are good, but the relatively negative factors are the high valuation and the weakening market sentiment. In the short term, the ore price will continue the high - level adjustment trend, and the performance of finished steel should be monitored [2].