宝城期货铁矿石早报（2025年10月9日）-20251009

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report The iron ore price is expected to oscillate at a high level due to the accumulation of contradictions in the iron ore fundamentals, with the supply returning to a high level while the demand is likely to weaken, despite the support from the warm atmosphere in the overseas commodity market during the holiday [2][3]. 3. Summary by Related Catalogs 3.1 Variety View Reference - For the iron ore 2601 contract, the short - term, medium - term, and intraday trends are respectively oscillating, oscillating, and oscillating with a slight upward bias. It is recommended to pay attention to the support at the MA60 line, and the core logic is the accumulation of real - world contradictions leading to high - level oscillations of the ore price [2]. 3.2 Market Driving Logic - During the holiday, the SGX iron ore swaps oscillated upwards, and the spot price increased slightly. However, the supply - demand pattern of iron ore is weakening. Steel mill production is weak, the terminal consumption of ore has declined from a high level, and contradictions in the steel market are accumulating with weakening demand resilience. - The arrival of iron ore at domestic ports during the holiday remained high, overseas ore shipments were active under high ore prices, and domestic ore supply recovered, causing the iron ore supply to return to a high level. - Overall, the warm atmosphere in the overseas commodity market during the holiday supported the ore price, but with the supply back at a high level and demand likely to weaken, the fundamental contradictions of iron ore are accumulating. Under the game of multiple and short factors, the ore price is expected to oscillate at a high level, and attention should be paid to the performance of steel [3].