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 6 月 12 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 MA10 一线支撑 | 基本面弱稳运行，矿价延续震荡 | 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 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 获 取 每 日 期 货 观 点 推 送 扫码关注宝城期货官方微信·期货咨询尽在掌握 服 务 国 ...

Report Summary 1) Report Industry Investment Rating - No investment rating information is provided in the report. 2) Core View of the Report - The iron ore price is expected to continue its low - level oscillating trend. The report suggests paying attention to the performance of steel products and the pressure at the MA5 line [2][3]. 3) Summary by Relevant Catalogs Variety View Reference - For the iron ore 2509 contract, the short - term view is oscillating, the medium - term view is oscillating, and the intraday view is weakly oscillating. The reference view is to focus on the pressure at the MA5 line, with the core logic being that the fundamentals are weakly stable and the ore price is oscillating at a low level [2]. Market Driving Logic - Steel mills are actively producing, and the demand for ore is good, which supports the ore price. However, the high demand has not led to inventory depletion because the supply has returned to a high level. There are concerns that the post - holiday demand may reach its peak, the fundamental outlook is weakening, and risk appetite is weakening before the holiday. Therefore, the ore price is expected to continue its low - level oscillating trend [3].