宝城期货铁矿石早报（2025年12月16日）-20251216

1. Report Industry Investment Rating - No information provided 2. Core Viewpoints of the Report - The iron ore market is expected to continue its wide - range oscillatory trend, with prices under pressure due to the weakening supply - demand pattern, but supported by unresolved structural contradictions in the spot market [1][2] 3. Summary by Related Contents 3.1 Variety Viewpoint Reference - For the iron ore 2605 contract, the short - term, medium - term, and intraday trends are respectively oscillatory, oscillatory, and weakly oscillatory, with an overall view of wide - range oscillation. The core logic is that the supply - demand pattern has not improved, putting pressure on the ore price [1] 3.2 Market Driving Logic - The supply - demand pattern of iron ore continues to weaken. Terminal consumption of ore is declining, and the weak demand situation is difficult to change due to the poor profitability of steel mills. Meanwhile, port arrivals in China have rebounded significantly, and miners' shipments have reached a new weekly high this year, resulting in a high overall supply. The market fundamentals remain weak, but the unresolved structural contradictions in the spot market support the ore price. The ore price is expected to continue oscillating, and the performance of steel products should be monitored [2]