宝城期货铁矿石早报（2025年10月28日）-20251028

Group 1: Report Industry Investment Rating - No relevant content, skipped. Group 2: Core Viewpoints of the Report - The iron ore price is expected to continue an oscillating trend due to the game between bullish and bearish factors. The high - valued ore price is likely to face pressure under the situation of strong supply and weak demand [2]. - For the iron ore 2601 contract, the short - term and medium - term trends are oscillating, and the intraday trend is oscillating weakly. Attention should be paid to the support at the MA5 line [1]. Group 3: Summary by Related Catalogs Variety Viewpoint Reference - For the iron ore 2601 contract, the short - term trend is oscillating, the medium - term trend is oscillating, and the intraday trend is oscillating weakly. The reference view is to pay attention to the support at the MA5 line, with the core logic being that market sentiment has warmed up and the ore price has bottomed out and rebounded [1]. Market Driving Logic - Market sentiment has warmed up, and the iron ore futures price has rebounded from a low level. However, the supply - demand pattern has changed little. Steel mill production is weakening, and the terminal consumption of ore is continuously falling. With the industrial contradictions in the steel market unresolved and the resurgence of production restrictions, demand is expected to continue to decline [2]. - Affected by weather factors, the arrival of ore at domestic ports has unexpectedly declined, but overseas ore shipments remain high. According to shipping schedules, subsequent arrivals will increase, and domestic ore production is normal, so the ore supply is stabilizing at a high level [2]. - Currently, although the market sentiment has warmed up and the iron ore price has rebounded from a low level, the supply remains high while the demand continues to weaken. Under the situation of strong supply and weak demand, the ore fundamentals are poor, and the high - valued ore price is prone to pressure [2].