瑞达期货铁矿石产业链日报-20260309

Group 1: Report Industry Investment Rating - No specific investment rating is provided in the report. Group 2: Core View of the Report - The report suggests an overall view of "oscillating bullish" for the iron ore market, but also emphasizes the need for risk control [2]. Group 3: Summary by Relevant Catalogs Futures Market - The closing price of the I main contract is 784.50 yuan/ton, up 12.50 yuan; the trading volume is 473,257 lots, down 14,997 lots. The I 5 - 9 contract spread is 26.5 yuan/ton, up 1.00 yuan. The net position of the top 20 in the I contract is -38,499 lots, down 3,558 lots, and the DCE warehouse receipt is 2,600 lots with no change. The Singapore iron ore main contract is quoted at 103.1 US dollars/ton, up 1.51 US dollars [2]. Spot Market - The price of 61.5% PB fines at Qingdao Port is 832 yuan/dry ton, up 13 yuan; the price of 60.5% Mac fines is 823 yuan/dry ton, up 12 yuan. The price of 56.5% Super Special fines at Jingtang Port is 729 yuan/dry ton, up 14 yuan. The basis of the I main contract is 39 yuan, down 1 yuan. The 62% Platts iron ore index is 102.65 US dollars/ton, up 1.30 US dollars. The ratio of Jiangsu scrap steel to 60.5% Mac fines at Qingdao Port is 3.18, down 0.07. The estimated import cost is 817 yuan/ton, up 12 yuan [2]. Industry Situation - The global iron ore shipping volume is 2,897.80 tons, down 442.90 tons; the arrival volume at 47 ports in China is 2,697.50 tons, up 467.50 tons. The iron ore inventory at 47 ports is 17,894.83 tons, up 3.53 tons; the iron ore inventory of sample steel mills is 9,011.57 tons, down 73.53 tons. The iron ore import volume is 11,965.00 tons, up 911.00 tons. The available days of iron ore are 21 days with no change. The daily output of 266 mines is 38.60 tons, up 1.48 tons; the operating rate of 266 mines is 60.90%, up 1.87%. The iron concentrate inventory of 266 mines is 50.17 tons, up 8.45 tons. The BDI index is 2,010.00, down 128.00. The shipping price from Tubarao, Brazil to Qingdao is 25.80 US dollars/ton, up 0.03 US dollars; the shipping price from Western Australia to Qingdao is 10.75 US dollars/ton, up 0.23 US dollars [2]. Downstream Situation - The blast furnace operating rate of 247 steel mills is 77.69%, down 2.55%; the blast furnace capacity utilization rate is 85.30%, down 2.18%. The domestic crude steel output is 6,818 tons, down 169 tons [2]. Option Market - The 20 - day historical volatility of the underlying is 16.15%, up 0.94%; the 40 - day historical volatility is 18.00%, up 0.47%. The implied volatility of at - the - money call options is 21.51%, up 3.31%; the implied volatility of at - the - money put options is 23.88%, up 4.82% [2]. Industry News - From March 2nd to March 8th, the global iron ore shipping volume was 2,897.8 tons, a decrease of 442.9 tons from the previous period. The shipping volume from Australia and Brazil was 2,342.1 tons, a decrease of 348.5 tons. The shipping volume from Australia was 1,753.2 tons, a decrease of 195.3 tons, and the volume shipped to China was 1,465.9 tons, a decrease of 105.1 tons. The shipping volume from Brazil was 589.0 tons, a decrease of 153.3 tons. The arrival volume at China's 47 ports was 2,697.5 tons, an increase of 467.5 tons; the arrival volume at 45 ports was 2,609.9 tons, an increase of 463.0 tons; the arrival volume at six northern ports was 1,464.5 tons, an increase of 431.7 tons [2].