宝城期货铁矿石早报（2026年2月13日）-20260213

Group 1: Report Industry Investment Rating - No relevant content Group 2: Core Viewpoints of the Report - The iron ore market is expected to continue to be under pressure and fluctuate at a low level. The fundamentals of iron ore have changed, with short - term supply contraction and slight improvement in demand, but the sustainability is questionable, and the current situation is weakly stable [2][3] Group 3: Summary by Related Catalogs Variety Viewpoint Reference - For the iron ore 2605 contract, the short - term and medium - term trends are both "oscillation", the intraday trend is "oscillation and slightly stronger", and the overall view is "low - level oscillation". The core logic is that the fundamentals are weakly stable and the ore price continues to oscillate [2] Market Driving Logic - The supply - demand pattern of iron ore has changed. Steel mill production is stabilizing, and the terminal consumption of ore has increased. However, industrial contradictions in the steel market are accumulating, limiting the improvement in ore demand. On the supply side, domestic port arrivals have decreased, and miner shipments have dropped significantly due to hurricane disturbances, but the high inventory situation limits the relief of supply pressure. The short - term supply contraction and slight demand improvement in the iron ore market have changed the fundamentals, but the sustainability is in doubt, and the current pattern is weakly stable. During the holiday, attention should be paid to changes in miner shipments [3]