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]