数据来源第三方，观点仅供参考。市场有风险，投资需谨慎！ 备注：I：铁矿石 铁矿石产业链日报 2025/8/26 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | I 主力合约收盘价（元/吨） | 776.50 | -10.50↓ I 主力合约持仓量(手) | 452,852 | -11978↓ | | | I 9-1合约价差（元/吨） | 20.5 | +1.00↑ I 合约前20名净持仓(手) | -5873 | -9565↓ | | | I 大商所仓单（手） | 2,000.00 | 0.00 | | | | | 新加坡铁矿石主力合约截止15：00报价(美元/吨) | 102.35 | -0.91↓ | | | | 现货市场 | 青岛港61.5%PB粉矿 (元/干吨) | 842 | -8↓ 青岛港60.8%麦克粉矿 (元/干吨) | 827 | -8↓ | | | 京唐港56.5%超特粉矿 (元/干吨) | 720 | -5↓ I 主力合约基差 (麦克粉干吨-主力合约) | 51 ...

Industry Investment Rating - No industry investment rating information is provided in the reports. Core Views Steel Industry - Hot-rolled coil prices broke through the support level, and there is an expectation of inventory accumulation from August to September. It is recommended to try shorting the October hot-rolled coil contract at 3380 - 3400 [1]. - Currently, steel mill production remains at a high level. Seasonal decline in rebar demand in August has led to an increase in inventory, with production higher than apparent demand. After the previous price increase, funds are betting on a decline in demand in the second half of the year [1]. Iron Ore Industry - The global iron ore shipment volume has increased significantly on a week-on-week basis, and the arrival volume at 45 ports has decreased. Based on recent shipment data, the subsequent average arrival volume is expected to recover [3]. - Considering the production restrictions of Hebei steel mills in the second half of the month, the molten iron output in August will decline slightly from the high level, with an average expected to be maintained at around 2.36 million tons per day. Steel mill inventory is increasing, and the restocking demand has weakened. It is recommended to short on rallies [3]. Coking Coal and Coke Industry - For coke, due to tight supply and demand, downstream steel mills still have restocking demand. There is still an expectation of a seventh round of price increase for coke. The futures price of coke is at a premium to the spot price, providing a hedging opportunity. The cost support of coking coal has weakened, and the previous bullish expectations may have been fully overdrawn [5]. - For coking coal, the spot fundamentals have returned to stable operation. The previous futures price increase has already factored in the expectation of coal mine production restrictions. It is recommended to short on rallies for speculation and conduct a reverse spread trade for the 9 - 1 contract [5]. Summary by Directory Steel Industry Steel Prices and Spreads - Rebar and hot-rolled coil prices generally declined. The spread between hot-rolled coil and rebar widened to around 290 [1]. Cost and Profit - Steel billet prices decreased, while slab prices remained unchanged. The costs of various steelmaking processes decreased, and the profits of different regions and varieties also declined [1]. Production - The daily average molten iron output and the output of five major steel products increased slightly, while the rebar output decreased slightly. The output of hot-rolled coils increased slightly [1]. Inventory - The inventory of five major steel products and rebar increased significantly, while the inventory of hot-rolled coils increased slightly [1]. Transaction and Demand - The transaction volume of building materials and the apparent demand of five major steel products and rebar decreased, while the apparent demand of hot-rolled coils increased [1]. Iron Ore Industry Prices and Spreads - The warehouse receipt costs of various iron ore varieties decreased slightly, and the basis of the 01 contract increased. The 5 - 9 spread increased slightly, the 9 - 1 spread remained unchanged, and the 1 - 5 spread decreased slightly [3]. Supply - The weekly arrival volume at 45 ports and the global weekly shipment volume increased significantly, and the monthly national import volume also increased [3]. Demand - The daily average molten iron output of 247 steel mills and the daily average port clearance volume increased slightly, while the monthly national pig iron and crude steel output decreased [3]. Inventory - The inventory at 45 ports increased slightly on a week-on-week basis, the inventory of imported ore in 247 steel mills increased, and the number of available days of inventory in 64 steel mills increased [3]. Coking Coal and Coke Industry Prices and Spreads - The prices of coking coal and coke futures fluctuated and declined. The prices of some coking coal varieties in the spot market decreased, while the prices of coke increased after the sixth round of price increase and the seventh round of price increase was initiated [5]. Supply - The coke production increased slightly on a week-on-week basis, and the production of Fenwei sample coal mines decreased slightly. The raw coal production decreased slightly, and the clean coal production increased slightly [5]. Demand - The molten iron output increased slightly, and the coke production increased slightly. The demand for coking coal and coke remains resilient, but the restocking demand has weakened [5]. Inventory - The total coke inventory decreased, with the inventory in coking plants, steel mills, and ports all decreasing. The coking coal inventory decreased in coking plants and steel mills, increased slightly in ports, and the inventory in coal mines decreased at a slower pace [5].

关注微信公众号 | 石产业期现日报 | | | | | | | --- | --- | --- | --- | --- | --- | | 投资咨询业务资格:证监许可 【2011】1292号 | | | | 徐艺丹 Z0020017 | | | 铁矿石相关价格及价差 | | | | | | | 品番 | 现值 | 前1日 | 涨跌 | 涨跌幅 | 单位 | | 仓単成本:卡粉 | 808.8 | 808.8 | 0.0 | 0.0% | | | 仓单成本:PB粉 | 831.5 | 834.8 | -3.3 | -0.4% | | | 仓单成本:巴混粉 | 844 0 | 843.8 | 1.1 | 0.1% | | | 仓单成本:金布巴粉 | 845.6 | 848.9 | -3.2 | -0.4% | | | 09合约基差:卡粉 | 3.3 | 1.3 | 2.0 | 151.0% | | | 09合约基差:PB粉 | 26.0 | 27.3 | -1.3 | -4.7% | 元/吨 | | 09合约基美:巴混粉 | 39.4 | 36.3 | 3.1 | 8.5% | | | 09合约基差:金布巴粉 | ...

投资咨询业务资格：证监许可【2011】1778 号 宝城期货铁矿石早报（2025 年 8 月 13 日） ◼ 品种观点参考 时间周期说明：短期为一周以内、中期为两周至一月 | 品种 | 短期 | 中期 | 日内 | 观点参考 | 核心逻辑概要 | | --- | --- | --- | --- | --- | --- | | 铁矿 2601 | 震荡 偏强 | 震荡 | 震荡 偏强 | 关注 MA5 一线支撑 | 需求韧性尚可，矿价偏强运行 | 说明： 1.有夜盘的品种以夜盘收盘价为起始价格，无夜盘的品种以昨日收盘价为起始价格，当日日盘收盘价为终点价格， 计算涨跌幅度。 2.跌幅大于 1%为下跌，跌幅 0~1%为震荡偏弱，涨幅 0~1%为震荡偏强，涨幅大于 1%为上涨。 （仅供参考，不构成任何投资建议） 专业研究·创造价值 1 / 2 请务必阅读文末免责条款 观点参考 观点参考 公司地址：浙江省杭州市求是路 8 号公元大厦南裙 1-5 楼。 咨询热线：400 618 1199 3.震荡偏强/偏弱只针对日内观点，短期和中期不做区分。 ◼ 行情驱动逻辑 市场情绪偏暖，矿价延续强势，相应的铁矿石基本面表现平稳，钢厂 ...

投资咨询业务资格：证监许可【2011】1778 号 钢材&铁矿石 | 日报 2025 年 8 月 12 日 钢材&铁矿石日报 专业研究·创造价值 供应扰动不断，钢矿延续强势 核心观点 螺纹钢：主力期价震荡走高，录得 0.96%日涨幅，量仓收缩。现阶段， 限产预期兑现，力度不及预期，原料再度走强，带动钢价走高，而供需 双增局面下螺纹钢基本面并无实质性好转，钢价仍易承压，上行驱动待 跟踪，预计钢价延续震荡运行态势，关注钢厂生产情况。 热轧卷板：主力期价偏强运行，录得 1.40%日涨幅，量缩仓增。目前来 看，供需双弱局面下热卷基本面持续走弱，库存增加且增幅扩大，但现 实矛盾有限，且原料强势上行带来成本支撑，短期走势延续震荡走高态 势，关注钢厂生产情况。 铁矿石：主力期价强势上行，录得 2.36%日涨幅，主力移仓换月完 成，量仓扩大。现阶段，铁矿石需求虽在走弱，但供应回升不及预期， 基本面平稳运行，且钢厂盈利状况良好，需求韧性尚可，继续给予矿价 支撑，多空因素博弈下预计矿价维持高位震荡态势，关注成材表现情 况。 （仅供参考，不构成任何投资建议） 姓名：涂伟华 宝城期货投资咨询部 从业资格证号：F3060359 投资咨 ...

投资咨询业务资格：证监许可【2011】1778 号 宝城期货铁矿石早报（2025 年 8 月 11 日） ◼ 品种观点参考 时间周期说明：短期为一周以内、中期为两周至一月 | 品种 | 短期 | 中期 | 日内 | 观点参考 | 核心逻辑概要 | | --- | --- | --- | --- | --- | --- | | 铁矿 2601 | 震荡 | 震荡 | 震荡 偏强 | 关注 MA20 一线支撑 | 需求韧性尚可，矿价高位震荡 | 说明： 1.有夜盘的品种以夜盘收盘价为起始价格，无夜盘的品种以昨日收盘价为起始价格，当日日盘收盘价为终点价格， 计算涨跌幅度。 2.跌幅大于 1%为下跌，跌幅 0~1%为震荡偏弱，涨幅 0~1%为震荡偏强，涨幅大于 1%为上涨。 3.震荡偏强/偏弱只针对日内观点，短期和中期不做区分。 ◼ 行情驱动逻辑 铁矿石基本面弱稳运行，钢厂生产趋弱，矿石终端消耗持续减量，相对利好则是钢厂利润状况较 好，需求维持高位，继续给予矿价支撑，但限产扰动也易带来冲击。与此同时，国内港口矿石到货迎 来回升，而海外矿商发运则是下降，高矿价下减量持续待跟踪，而内矿生产延续弱稳，矿石供应维持 稳中有升 ...

铁矿石期货主力合约日内涨幅扩大至3% 智通财经7月21日电，铁矿石期货主力合约日内涨幅扩大至3%，报817.5元/吨。 ...

Group 1 - The main contract for iron ore has increased by 2.00% during the day, currently priced at 798.00 yuan per ton [1]

Group 1 - The main futures contract for iron ore surged by 4%, reaching 766 yuan per ton [1] - The Singapore iron ore index's main contract increased by over 3%, currently priced at 99.45 USD per ton [1]

投资咨询业务资格：证监许可【2011】1778 号 宝城期货铁矿石早报（2025 年 7 月 2 日） ◼ 品种观点参考 时间周期说明：短期为一周以内、中期为两周至一月 | 品种 | 短期 | 中期 | 日内 | 观点参考 | 核心逻辑概要 | | --- | --- | --- | --- | --- | --- | | 铁矿 2509 | 震荡 | 震荡 | 震荡 偏弱 | 关注 MA5 一线支撑 | 限产扰动再现，矿价承压走弱 | 说明： 1.有夜盘的品种以夜盘收盘价为起始价格，无夜盘的品种以昨日收盘价为起始价格，当日日盘收盘价为终点价格， 计算涨跌幅度。 2.跌幅大于 1%为下跌，跌幅 0~1%为震荡偏弱，涨幅 0~1%为震荡偏强，涨幅大于 1%为上涨。 3.震荡偏强/偏弱只针对日内观点，短期和中期不做区分。 限产扰动再现，原料相关期价承压走弱，而铁矿石供需格局有所变化，钢厂生产积极，矿石需求 韧性表现尚可，给予矿价支撑，但淡季增量空间存疑。与此同时，财年末冲量结束，海外矿商发运有 所回落，关注后续降幅情况，且港口到货有所回落，海外矿石供应有所收缩，而内矿生产恢复积极， 整体供应收缩力度有限。目前来看 ...