Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core Viewpoints of the Report - The iron ore market is expected to continue its high - level oscillatory trend, and attention should be paid to the performance of finished steel products. The supply - demand pattern of iron ore has not improved, with demand weakening and supply remaining stable, and the valuation is moderately high with limited upward driving force [2] Group 3: Summary by Related Catalogs Variety Viewpoint Reference - For the iron ore 2601 contract, the short - term and medium - term trends are expected to be oscillatory, while the intraday trend is expected to be weakly oscillatory. It is recommended to pay attention to the support at the MA5 line. The core logic is that the supply - demand pattern is stable and the ore price will continue to oscillate [1] Market Driving Logic - The supply - demand pattern of iron ore has changed little. Steel mill production is weakening, and ore demand is continuously declining. Short - term production restrictions still have an impact, and the positive effect is weakening. Domestic port arrivals have decreased, but overseas miners' shipments remain high. According to shipping schedules, the arrival of Australian and Brazilian ores is expected to increase. Overseas ore supply is high, but domestic ore production is restricted, and overall ore supply is stable. Market sentiment has improved, and the ore price has strengthened again, but the fundamentals have not improved [2]

本周值 环比变化 上月末值 本月变化 同期值 同期变化 45港铁矿石库存 13,878.40 -51.83 13,930.23 -51.83 14,988.66 -1,110.26 247家钢厂进口矿库存 8,918.57 71.10 8,847.47 71.10 9,212.91 -294.34 45港铁矿石到货量 2,363.00 -199.70 2,562.70 -199.70 2,470.20 -107.20 全球19港铁矿石发货量 3,357.60 -149.10 3,506.70 -149.10 3,712.50 -354.90 247家钢厂日均铁水产量 240.85 -1.44 242.29 -1.44 239.32 1.53 45港日均疏港量 319.29 -6.65 325.94 -6.65 309.47 9.82 247家钢厂进口矿日耗 300.81 -0.44 301.25 -0.44 293.21 7.60 主港铁矿成交周均值 98.90 1.10 97.80 1.10 105.26 -6.36 数据来源：我的钢铁网 宝城期货金融研究所 铁矿石周度数据（20250704） 库存 供给 ...

Group 1 - The recent decline in iron ore prices is attributed to both seasonal factors and changes in supply-demand dynamics [1] - Rio Tinto's approval of a 31 million ton mining project raises questions about future iron ore prices [1]

本周值 环比变化 上月末值 本月变化 同期值 同期变化 45港铁矿石库存 13,826.69 -39.89 13,866.58 -39.89 14,927.76 -1,101.07 247家钢厂进口矿库存 8,690.18 -64.15 8,754.33 -64.15 9,218.20 -528.02 45港铁矿石到货量 2,536.50 385.20 2,151.30 385.20 2,256.00 280.50 全球19港铁矿石发货量 3,431.00 242.30 3,188.70 242.30 3,248.70 182.30 247家钢厂日均铁水产量 241.80 -0.11 241.91 -0.11 235.75 6.05 45港日均疏港量 313.99 -12.69 326.68 -12.69 312.82 1.17 247家钢厂进口矿日耗 300.48 0.80 299.68 0.80 288.10 12.38 主港铁矿成交周均值 95.20 -1.74 96.94 -1.74 97.58 -2.38 铁矿石周度数据（20250606） 库存 供给 需求 10,000 11,000 12,000 ...