建信期货铁矿石日评-20251013

Report Overview - Report Type: Iron Ore Daily Report [1] - Date: October 13, 2025 [2] - Research Team: Black Metal Research Team [3] 1. Report Industry Investment Rating - No relevant information provided 2. Report Core View - The negotiation between Sinomine Group and BHP may increase market risk aversion, and iron ore prices are strongly supported at the bottom. They are expected to consolidate at high levels in the near future. Attention should be paid to the recovery of downstream demand, which could boost iron ore prices if it recovers quickly [11] 3. Summary by Related Catalog 3.1 Market Review and Outlook 3.1.1 Market Review - On October 10, the main iron ore futures contract 2601 oscillated upward, opened higher and then oscillated, closing at 795 yuan/ton, up 1.02%. The main contract prices of other steel products also had different changes. For example, RB2601 closed at 3103 yuan/ton, up 0.52%; HC2601 closed at 3285 yuan/ton, up 0.37%; SS2512 closed at 12805 yuan/ton, down 0.12% [5][7] - In the spot market, on October 10, the main iron ore foreign market quotes rose by $1.5/ton compared with the previous trading day, and the prices of main-grade iron ore at Qingdao Port rose by 5 - 7 yuan/ton compared with the previous trading day [9] - Technically, the daily KDJ indicator of the iron ore 2601 contract showed a divergent trend, with the K and J values continuing to rise and the D value continuing to fall, showing a potential golden cross. The green bars of the daily MACD indicator of the iron ore 2601 contract narrowed for two consecutive trading days [9] 3.1.2 Outlook - There are reports that Sinomine Group has suspended purchasing imported iron ore produced by BHP priced in US dollars, and there are rumors that BHP has agreed to fulfill long - term contracts priced in RMB, but the news is unconfirmed, bringing some support to iron ore prices [10] - In terms of fundamentals, the shipments and arrivals from Australia and Brazil increased in September, possibly due to end - of - quarter volume surges. Considering the uncertainty of the negotiation results and the regular decline after the end of the volume surge, shipments and arrivals are expected to decline in October [11] - On the demand side, the daily average pig iron output is still at a relatively high level of over 2.4 million tons. Given the continuous narrowing of steel production profits, the growth space of output is limited, and it may oscillate at around 2.4 million tons in the short term [11] - In terms of inventory, steel mills increased their restocking efforts before the holiday, and the iron ore inventory of steel mills continued to grow. It is expected to gradually decline after the holiday, but the decline may not be significant in the short term due to the uncertainty of the negotiation between Sinomine Group and BHP [11] 3.2 Industry News - On the 10th, the Israeli government approved a cease - fire agreement in Gaza, which will end the war, release Israeli hostages and Palestinian prisoners, and allow humanitarian aid to enter the Gaza Strip [12] - Starting from October 14, 2025, the US will impose additional port service fees on Chinese - owned or - operated ships, Chinese - flagged ships, and Chinese - built ships. In response, China will collect special port fees on relevant US ships starting from the same date [12] 3.3 Data Overview - The report provides multiple data charts related to the iron ore and steel industries, including the prices of main iron ore varieties at Qingdao Port, the price differences between high - grade ore, low - grade ore and PB powder, the basis between iron ore spot and January contract at Qingdao Port, the shipments from Brazil and Australia, the arrivals at 45 ports, the domestic mine capacity utilization rate, the main port iron ore trading volume, the steel mill iron ore inventory available days, the imported sintered powder ore inventory, the port iron ore inventory and dispatch volume, the sample steel mill tax - free pig iron cost, the blast furnace and electric furnace operating rates and capacity utilization rates, the national daily average pig iron output, the apparent consumption of five major steel products, the weekly output of five major steel products, and the steel mill inventory of five major steel products [14][18][22][24][26][29][34][38][43]