宝城期货铁矿石早报（2025年12月30日）-20251230

Group 1: Report Industry Investment Rating - No relevant content found Group 2: Core Viewpoints of the Report - The iron ore 2605 contract is expected to trade in a high - level range, with short - term, medium - term, and intraday trends being oscillatory, while the intraday trend is slightly weak. The core logic is that bullish factors remain, keeping the ore price at a high level [1]. - The iron ore supply - demand pattern continues to weaken. Port inventories are rising to high levels, steel mill production is stabilizing, and terminal ore consumption is at a low level. Although the profit situation of steel mills has limited improvement, the pre - holiday restocking expectation is relatively positive. Overall, the iron ore price is running strongly at a high level due to spot structural contradictions and pre - holiday restocking expectations, but the demand is weakening and supply remains high, so the upward driving force is not strong, and the follow - up trend is cautiously optimistic, with attention paid to steel mill restocking [2]. Group 3: Summary by Related Catalogs Variety Viewpoint Reference - For the iron ore 2605 contract, the short - term trend is oscillatory, the medium - term trend is oscillatory, and the intraday trend is slightly weak, with an overall view of high - level oscillation. The core logic is that bullish factors remain and the ore price is at a high level [1]. Market Driving Logic - The iron ore supply - demand pattern is weakening. Port inventories are rising, steel mill production is stable, terminal ore consumption is low, and steel mill profitability improvement is limited. Pre - holiday restocking expectation is positive. Domestic port arrivals have slightly declined, while miner shipments have reached a new weekly high for the year. Overall, the ore supply remains high. The iron ore price is running strongly at a high level due to spot structural contradictions and restocking expectations, but the fundamentals are weakening and the upward driving force is not strong, with attention on steel mill restocking [2].