Group 1: Report Industry Investment Rating - No investment rating information is provided in the report. Group 2: Core Viewpoints of the Report - The iron ore market shows a situation of weak supply and demand, with no substantial change in the fundamentals. The market sentiment is warming up due to the recent fermentation of favorable policy expectations, which supports the iron ore price to maintain a relatively strong operation. However, beware of the trading logic switching to the industrial side [2]. Group 3: Summary of Each Section Variety Viewpoint Reference - For the iron ore 2509 contract, the short - term trend is oscillating and slightly stronger, the medium - term trend is oscillating, and the intraday trend is oscillating and slightly weaker. It is recommended to pay attention to the support at the MA5 line. The core logic is that the market sentiment is positive and the ore price is at a high level [1]. Market Driving Logic - The iron ore market remains in a situation of weak supply and demand. During the off - season, steel mill production weakens, and the terminal consumption of ore continues to decline. But steel mills have good profitability, so the demand reduction space is limited. On the supply side, although port arrivals have increased, after the end - of - fiscal - year shipment rush, miners' shipments have decreased significantly, overseas ore supply has shrunk, and domestic ore production has also weakened. The fundamentals of the ore market have no substantial change under the weak supply - demand situation, and industrial contradictions are limited [2].