Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core Viewpoint The iron ore market is expected to continue its oscillating trend with weak upward momentum, and attention should be paid to the performance of steel products. The current situation of the iron ore market is weak, and there is no substantial improvement in the fundamentals of the ore market, with high supply and limited improvement in demand [1][2]. 3. Summary by Relevant Catalog 3.1 Variety Viewpoint Reference - For the iron ore 2601 contract, the short - term (within one week) and medium - term (two weeks to one month) trends are expected to be oscillating, while the intraday trend is expected to be weakly oscillating. It is recommended to pay attention to the support at the MA60 line. The core logic is that the current situation is weak and the upward driving force is not strong [1]. 3.2 Market Driving Logic - The supply - demand pattern of iron ore has not improved. Although the terminal consumption of ore has increased, the profitability of steel mills is poor, and the industrial contradictions in the steel market remain unresolved, with limited room for improvement. - The arrival of ore at domestic ports has been continuously decreasing, but the shipments from overseas miners have increased significantly and reached a high for the year. According to the shipping schedule, the subsequent arrivals will increase. The supply of foreign ore remains active, and the supply of domestic ore is stable, so the ore supply remains at a high level. - Thanks to the switch of the arbitrage logic and the improvement of ore demand, the ore price has rebounded from a low level. However, due to the high supply, there is no substantial improvement in the fundamentals of the ore market, and the upward driving force is not strong [2].
宝城期货铁矿石早报（2025年11月19日）-20251119
Bao Cheng Qi Huo·2025-11-19 01:41