格林大华期货早盘提示：铁矿-20260224

Group 1: Report Industry Investment Rating - No information provided Group 2: Core View of the Report - Due to the slow resumption of work in downstream industries and insufficient rigid demand for iron ore, it is expected that iron ore will show a moderately weak and fluctuating trend in the medium term. In the short term, there may be a rebound on the first trading day after the holiday [1] Group 3: Summary by Relevant Catalogs Market Review - Iron ore prices declined on the last trading day before the holiday [1] Important Information - From February 12th to 18th, the total output of five major steel products was 8.0475 million tons, a month - on - month increase of 0.1069 million tons [1] - As of February 23rd, the total inventory of five major steel products was 17.1184 million tons, a month - on - month increase of 2.6911 million tons. Among them, the steel mill inventory was 5.2987 million tons, a month - on - month increase of 1.1381 million tons; the social inventory was 11.8197 million tons, a month - on - month increase of 1.553 million tons. The average daily inventory accumulation rate of rebar during the Spring Festival was 11,750 tons, the lowest in the same period of the past five years [1] - As of the end of 2025, the ultra - low emission renovation project of China's steel industry was successfully completed, with over 80% of the crude steel production capacity achieving ultra - low emissions. The energy consumption of blast furnaces and converters of 143 cultivation enterprises decreased by 2.5% and 12.2% respectively compared with 2023, with a cumulative energy saving of 13.2 million tons of standard coal and a reduction of 34 million tons of carbon dioxide emissions in the two processes [1] - From February 16th to 22nd, the total iron ore shipments from Australia and Brazil were 27.133 million tons, a month - on - month increase of 5.984 million tons compared with February 9th - 15th. The iron ore arrivals at 47 Chinese ports were 23.211 million tons, a month - on - month decrease of 1.746 million tons compared with February 9th - 15th [1] Market Logic - Steel production increased and inventory accumulated during the Spring Festival. Iron ore shipments increased and arrivals decreased during the Spring Festival. Port iron ore trading volume declined. The Singapore iron ore swap fluctuated narrowly during the Spring Festival, generally maintaining a range of $95 - 100 [1] Trading Strategy - Due to the slow resumption of work in downstream industries and insufficient rigid demand for iron ore, it is expected that iron ore will show a moderately weak and fluctuating trend in the medium term. In the short term, there may be a rebound on the first trading day after the holiday [1]