宝城期货铁矿石早报-20250821
Bao Cheng Qi Huo·2025-08-21 01:18
- Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints of the Report - The iron ore 2601 contract is expected to fluctuate in the short - and medium - term, and show a slightly weaker fluctuation in the intraday trading. Attention should be paid to the pressure at the MA20 line. The demand has certain resilience, and the ore price will fluctuate at a high level [1]. - The supply and demand of iron ore have both increased. The steel mill production is stable, and the terminal consumption of ore has rebounded from a high level, providing support for the ore price. However, the steel mill profits are shrinking, and there are continuous production - restriction disturbances. The supply of overseas ore has increased significantly, and domestic ore production is recovering. The fundamentals of iron ore have not improved substantially, and the high - valued ore price has limited upward driving force. The subsequent trend is expected to continue to fluctuate at a high level, and the performance of finished steel should be monitored [2]. 3. Summary by Relevant Catalogs 3.1 Variety Viewpoint Reference - For the iron ore 2601 contract, the short - term view is "fluctuation", the medium - term view is "fluctuation", and the intraday view is "slightly weaker fluctuation". The reference view is to pay attention to the pressure at the MA20 line, and the core logic is that the demand has certain resilience and the ore price fluctuates at a high level [1]. 3.2 Market Driving Logic - The supply and demand of iron ore have both increased. The terminal consumption of ore has rebounded from a high level, but the steel mill profits are shrinking and there are production - restriction disturbances. Overseas ore supply has increased significantly, and domestic ore production is recovering. The fundamentals have not improved substantially, and the high - valued ore price has limited upward driving force. The subsequent trend will continue to fluctuate at a high level, and the performance of finished steel should be noted [2]