Report Summary 1. Report Industry Investment Rating No information about the report industry investment rating is provided in the content. 2. Core Viewpoint The report is optimistic about the short - term and medium - term trends of iron ore 2509. In the short term, it is expected to rise, and in the medium term, it will be in a volatile and moderately strong state. The core logic is that the supply - demand pattern of iron ore is good, and the price will run strongly. However, considering its relatively high valuation, a cautious and optimistic attitude should be taken towards its upward potential, and attention should be paid to the performance of finished steel products [2][3]. 3. Summary by Related Catalogs 3.1 Variety Viewpoint Reference - For iron ore 2509, the short - term view is a rise, the medium - term view is a volatile and moderately strong state, and the intraday view is also a volatile and moderately strong state. It is recommended to pay attention to the support at the MA5 line. The core logic is that the supply - demand pattern is good, and the ore price runs strongly [2]. 3.2 Market Driving Logic - The fundamentals of iron ore have improved. The inventory has been depleted again. During the off - season, steel mills are actively producing, and the terminal consumption of ore has increased. The profitability of steel mills is good, and the demand for ore is acceptable, which strongly supports the ore price. - The arrival of goods at domestic ports has decreased as expected. Although the shipments of overseas miners have rebounded from a low level, it is difficult to increase the short - term domestic arrivals according to the shipping schedule. The overseas ore supply is low, and the domestic ore production is stable. The ore supply has shrunk in the short term. - In the situation of weak supply and increasing demand, the fundamentals of iron ore are good. Coupled with the continued optimistic market sentiment, the ore price remains high and runs strongly. However, considering its relatively high valuation, a cautious and optimistic attitude should be taken towards its upward potential, and attention should be paid to the performance of finished steel products [3].