宝城期货铁矿石早报（2025年10月16日）-20251016

Report Summary 1. Industry Investment Rating - No investment rating provided in the report 2. Core View - The short - term view on Iron Ore 2601 is bearish, the medium - term view is sideways, and the intraday view is sideways with a weak bias. It is recommended to pay attention to the pressure at the MA5 line, as industry concerns are fermenting and the ore price is under downward pressure [1] 3. Summary by Relevant Content Market Driving Logic - The supply - demand pattern of iron ore is weakening. Although the terminal consumption of ore remains high and the rigid demand is good, which supports the ore price, the contradictions in the steel market are accumulating, industry concerns are fermenting, and the positive effect of demand is weakening. Meanwhile, the arrival of ore at domestic ports is high, miners' shipments remain at a high level, overseas ore supply is active at high prices, and domestic ore supply has recovered, increasing the supply pressure. Currently, the ore supply is increasing, industry concerns are fermenting, the positive effect of ore demand is weakening, the fundamentals of the ore market are starting to deteriorate, and the over - valued ore price will be under downward pressure. However, due to the high - level rigid demand for ore, there is resistance to the downward movement. A subsequent downward trend will require steel mills to cut production, and attention should be paid to the performance of steel products [2]