大越期货铁矿石早报-20260309

Report Basic Information - Report Name: Iron Ore Morning Report (March 9, 2026) [1] - Completion Time: March 9, 2026 [2] - Analyst: Hu Yuxiu, with qualification number F03105325 and investment consulting number Z0021337 [2] - Research Assistant: Huang Ruoyu, with qualification number F03145541 [2] Industry Investment Rating - Not provided Core View - The high port inventory, negative landing profit, and weak terminal demand form a constraint, and the pressure of steel de - stocking is being transmitted upstream; the market is bearish in terms of fundamentals. However, the signals of stable growth and loose fiscal and monetary policies released during the Two Sessions inject strong expectations into the market, supporting the short - term strong operation of the ore price, with a volatile and upward trend [1] Summary by Directory Spot and Basis - The closing price of the main contract i2605 is 772.0. The spot price of Rizhao Port PB powder converted to the disk price is 805 yuan/ton, with a basis of 33; the spot price of Rizhao Port Brazilian mixed ore converted to the disk price is 815, with a basis of 43, showing a bullish situation [1] Supply and Inventory - The port inventory is 17,891.3 tons, increasing both on a month - on - month and year - on - year basis, which is bearish [1] Demand and Downstream - The weak terminal demand forms a constraint, and the pressure of steel de - stocking is being transmitted upstream [1]