宝城期货铁矿石早报-20260317

Report's Industry Investment Rating - No information provided about the industry investment rating 2. Core Viewpoints of the Report - The short - term and intraday view of Iron Ore 2605 is oscillating strongly, and the medium - term view is oscillating. It is recommended to focus on the support at the MA5 line, with the core logic being that the fundamentals have not improved and the ore price is oscillating at a high level [2] - The iron ore price is expected to shift to high - level oscillation, and attention should be paid to the performance of steel products [3] 3. Summary by Relevant Catalogs 3.1 Variety Viewpoint Reference - For Iron Ore 2605, the short - term view is oscillating strongly, the medium - term is oscillating, and the intraday view is also oscillating strongly. The reference view is to focus on the support at the MA5 line. The core logic is that the fundamentals have not improved and the ore price is oscillating at a high level. The calculation of the rise - fall range and the definitions of different market conditions are also provided [2] 3.2 Market Driving Logic - The iron ore supply - demand pattern has changed little. The terminal consumption of ore has significantly declined recently, mainly due to production restrictions during the meetings. The subsequent resumption of production by steel mills will improve ore demand, but the profit situation of steel mills is not good, so the incremental space is limited [3] - The arrival of goods at domestic ports has declined again, while the shipments from miners have increased. According to the shipping schedule, the arrival of goods at ports will tend to be stable, and the domestic ore supply is recovering, so the ore supply is increasing steadily [3] - The previous bullish factors have supported the ore price to return to a high level, but the fundamentals of the ore market have not improved under the situation of stable supply and weak demand. The upward driving force is not sustainable, and the ore price is expected to oscillate at a high level [3]