宝城期货铁矿石早报-20260320

1. Report Industry Investment Rating - Not provided in the report 2. Core Viewpoints - The iron ore price is expected to continue its high - level oscillation, and attention should be paid to steel performance [3] - For iron ore 2605, the short - term and medium - term trends are oscillatory, and the intraday trend is weakly oscillatory. Attention should be paid to the support at the MA5 line [2] 3. Summary by Relevant Catalogs 3.1 Variety Viewpoint Reference - For iron ore 2605, the short - term, medium - term and intraday trends are oscillatory, weakly oscillatory, and weakly oscillatory respectively. The reference view is to pay attention to the MA5 line support, with the core logic being a weakly stable supply - demand pattern and weak upward drive [2] 3.2 Market Driving Logic - The supply and demand of iron ore have changed. Steel mills are actively resuming production, the terminal consumption of ore has rebounded from a low level, and demand has improved marginally. However, the contradictions in the steel market need to be resolved, and the incremental space for ore demand is questionable [3] - Although the arrival of goods at domestic ports has declined, the shipments of miners have increased. According to the shipping schedule, the subsequent arrival of goods will continue to be stable. In addition, the domestic ore supply is recovering, and the ore supply is increasing steadily [3] - In general, the iron ore demand has improved as expected, but the incremental space is limited, while the supply is increasing steadily. The ore fundamentals are stable, and high - valued ore prices are prone to pressure. The relative positive factor is that the previous positive factors have not subsided, providing support for the ore price. Under the game of long and short factors, the ore price is expected to continue the high - level oscillation [3]