铁矿石早报-20260324

Report Industry Investment Rating - Not provided Core View of the Report - It is expected that the iron ore price will continue to fluctuate. In the short term, the cost support and the medium - term expectation of loose supply will compete with each other. Attention should be paid to the results of the annual long - term contract negotiation. If the supply restrictions are lifted, the price may be under pressure [1] Summary by Relevant Catalogs Supply and Inventory - Supply - side disturbances continue, which support the price in the short term. Port inventories have slightly decreased. The port inventory is 17814.18 tons, with a month - on - month decrease and a year - on - year increase, showing a neutral situation [1] Spot and Basis - The spot price of PB powder at Rizhao Port converted to the futures price is 841 yuan/ton, with a basis of 22; the spot price of Brazilian mixed ore at Rizhao Port converted to the futures price is 859 yuan/ton, with a basis of 40, showing a bullish situation [1] Demand and Downstream - Not provided