宝城期货铁矿石早报（2025年9月29日）-20250929

Group 1: Report Industry Investment Rating - No relevant content found Group 2: Core Viewpoints of the Report - The short - term view of Iron Ore 2601 is weak and volatile, the medium - term view is volatile, and the intraday view is also weak and volatile. It is recommended to pay attention to the pressure at the MA5 line. The core logic is that the fundamentals are weakening and the ore price is under pressure [1]. - The supply - demand pattern of iron ore is weakening, with increasing inventory. Although the terminal consumption of ore remains high, restocking is coming to an end, and the contradictions in the steel market are accumulating. The supply of iron ore is increasing, and the high - valued ore price is under pressure to decline. Attention should be paid to the performance of finished steel products [2]. Group 3: Summary by Relevant Catalogs Variety Viewpoint Reference - For Iron Ore 2601, short - term (within a week): weak and volatile; medium - term (two weeks to one month): volatile; intraday: weak and volatile. The view is to pay attention to the pressure at the MA5 line, and the core logic is the weakening fundamentals and the pressure on the ore price [1]. Market Driving Logic - The supply - demand pattern of iron ore is weakening. Inventory is continuously increasing. Terminal consumption of ore remains high, but restocking is ending. The contradictions in the steel market are accumulating, and the positive effects are weakening. The arrival volume of iron ore at domestic ports is increasing, and the overseas miners' shipments have declined from the high level. The supply of iron ore is increasing. Although the pre - holiday ore demand provides support for the ore price, the supply is rising, and the demand is weakening due to concerns about negative feedback. The fundamental contradictions will accumulate, and the high - valued ore price is under pressure to decline. Attention should be paid to the performance of finished steel products [2].