铁矿石周度数据（20251114）-20251114

Report Summary 1) Report Industry Investment Rating - Not provided in the content 2) Core View of the Report - The supply - demand pattern of iron ore has not improved, with continuous increase in inventory. Although the terminal consumption of ore has rebounded due to steel mill复产, the improvement in ore demand is questionable as the profitability of steel mills has not improved. The supply of ore remains high. The recent rebound in ore prices is driven by the change in the arbitrage logic, but under the real - world logic, ore prices will continue to face downward pressure. Attention should be paid to the production situation of steel mills [1] 3) Summary According to Related Catalogs Inventory - 45 - port iron ore inventory reached 15,129.71, a week - on - week increase of 230.88 and a month - to - date increase of 587.23 compared to the end of last month. It was 150.80 less than the same period last year [2] - 247 steel mills' imported ore inventory was 9,076.01, a week - on - week increase of 66.07 and a month - to - date increase of 226.15 compared to the end of last month. It was 22.28 more than the same period last year [2] Supply - 45 - port iron ore arrivals were 2,741.20, a week - on - week decrease of 477.20 but a month - to - date increase of 712.10 compared to last month. It was 414.20 more than the same period last year [2] - Global 19 - port iron ore shipments were 3,069.02, a week - on - week decrease of 144.82 and a month - to - date decrease of 319.33 compared to last month. It was 48.32 more than the same period last year [2] Demand - 247 steel mills' average daily hot metal production was 236.88, a week - on - week increase of 2.66 and a month - to - date increase of 0.52 compared to last month. It was 0.94 more than the same period last year [2] - 45 - port average daily port clearance volume was 326.95, a week - on - week increase of 6.02 and a month - to - date increase of 6.79 compared to last month. It was 1.29 more than the same period last year [2] - 247 steel mills' imported ore daily consumption was 292.63, a week - on - week increase of 3.93 and a month - to - date increase of 1.01 compared to last month. It was 0.26 less than the same period last year [2] - The weekly average of main - port iron ore transactions was 106.93, a week - on - week decrease of 18.15 but a month - to - date increase of 24.75 compared to last month. It was 2.81 less than the same period last year [2]