商 品 研 究 2026 年 2 月 3 日 铁矿石：窄幅震荡 李亚飞 投资咨询从业资格号：Z0021184 liyafei2@gtht.com 【基本面跟踪】 铁矿石基本面数据 | 期 货 | | | 昨日收盘价（元/吨） | 涨跌（元/吨） | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | | | | | -8.5 | -1.07% | | | I2605 | | 783.0 | 昨日持仓（手） | 持仓变动 （手） | | | | | | 520,684 | -20,544 | | | | | 昨日价格（元/吨） | 前日价格（元/吨） | 涨跌（元/吨） | | | | 卡粉（65%） | 879.0 | 884.0 | -5.0 | | | 进口矿 | PB（61.5%） | 787.0 | 794.0 | -7.0 | | 现货价格 | | 金布巴 （61%） | 735.0 | 743.0 | -8.0 | | | | 超特（56.5%） | 674.0 | 680.0 | -6.0 | | | 国产矿 | 邯邢（66%） | 950.0 | 956 ...

2026 年 2 月 2 日 国 泰 君 安 期 货 研 究 所 【基本面跟踪】 铁矿石基本面数据 | 期 货 | | | 昨日收盘价（元/吨） | 涨跌（元/吨） | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | | | | | -7.0 | -0.88% | | | I2605 | | 791.5 | 昨日持仓（手） | 持仓变动 （手） | | | | | | 541,228 | -14,164 | | | | | 昨日价格（元/吨） | 前日价格（元/吨） | 涨跌（元/吨） | | | | 卡粉（65%） | 884.0 | 884.0 | 0.0 | | | 进口矿 | PB（61.5%） | 794.0 | 800.0 | -6.0 | | 现货价格 | | 金布巴 （61%） | 743.0 | 752.0 | -9.0 | | | | 超特（56.5%） | 680.0 | 684.0 | -4.0 | | | 国产矿 | 邯邢（66%） | 956.0 | 956.0 | 0.0 | | | | 莱芜（65%） | 874.0 | 874.0 ...

商 品 研 究 2026 年 1 月 30 日 铁矿石：资金轮动，小幅探涨 李亚飞 投资咨询从业资格号：Z0021184 liyafei2@gtht.com 【基本面跟踪】 铁矿石基本面数据 | 期 货 | | | 昨日收盘价（元/吨） | 涨跌（元/吨） | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | | | | | 15.5 | 1.98% | | | I2605 | | 798.5 | 昨日持仓（手） | 持仓变动 （手） | | | | | | 555,392 | -9,221 | | | | | 昨日价格（元/吨） | 前日价格（元/吨） | 涨跌（元/吨） | | | | 卡粉（65%） | 881.0 | 874.0 | 7.0 | | | 进口矿 | PB（61.5%） | 797.0 | 790.0 | 7.0 | | 现货价格 | | 金布巴 （61%） | 749.0 | 742.0 | 7.0 | | | | 超特（56.5%） | 680.0 | 673.0 | 7.0 | | | 国产矿 | 邯邢（66%） | 956.0 | 956 ...

2026 年 1 月 21 日 铁矿石：价格走弱，关注下游补库节奏 张广硕 投资咨询从业资格号：Z0020198 zhangguangshuo@gtht.com 【基本面跟踪】 铁矿石基本面数据 | | | | 昨日收盘价(元/吨) | 涨跌(元/吨) | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 期货 | I 2605 | | 789.5 | -4.5 | -0.57% | | | | | | 昨日持仓(手) | 持仓变动(手) | | | | | | 586. 412 | -29,929 | | | | | 昨日价格(元/吨) | 前日价格(元/吨) | 涨跌(元/吨) | | | 进口矿 | 卡粉 (65%) | 878. 0 | 883. 0 | -5.0 | | | | PB (61.5%) | 799.0 | 804. 0 | -5.0 | | 现货价格 | | 金布巴 (61%) | 752. 0 | 757. 0 | -5. 0 | | | | 超特 (56.5%) | 677.0 | 680. 0 | -3.0 | | | 国产矿 | 郎那 ...

Report Summary 1. Investment Rating - No investment rating is provided in the report. 2. Core View - The report indicates that the macro - risk appetite for iron ore is boosted again, and it will be in a high - level oscillation state [1]. 3. Summary by Sections 3.1 Fundamentals Tracking - **Futures Data**: The closing price of iron ore futures was 780.0 yuan/ton, up 2.5 yuan/ton or 0.32%. The position of I2605 was 534,905 hands, with an increase of 16,750 hands [1]. - **Spot Price**: Among imported ores, the price of 65% Carajás fines (Carajas) was 874.0 yuan/ton, up 2.0 yuan/ton; 61.5% PB fines was 795.0 yuan/ton, up 1.0 yuan/ton; 61% Jimbobara fines was 748.0 yuan/ton, up 1.0 yuan/ton; 56.5% Super Special fines was 677.0 yuan/ton, down 1.0 yuan/ton. Among domestic ores, the price of 66% Langna ore and 65% Laiwu ore remained unchanged at 956.0 yuan/ton and 874.0 yuan/ton respectively [1]. - **Price Spreads**: The basis of I2605 against Super Special fines decreased by 3.6 yuan/ton to 108.0 yuan/ton; the basis against Jimbobara fines decreased by 1.4 yuan/ton to 49.6 yuan/ton. The spread between I2605 and I2609 decreased by 0.5 yuan/ton to 22.0 yuan/ton; the spread between I2601 and I2605 decreased by 1.5 yuan/ton to 18.0 yuan/ton. The spread between Carajás fines and PB fines increased by 1.0 yuan/ton to 79.0 yuan/ton; the spread between PB fines and Jimbobara fines remained unchanged at 47.0 yuan/ton; the spread between PB fines and Super Special fines increased by 2.0 yuan/ton to 118.0 yuan/ton [1]. 3.2 Macro and Industry News - From January to November, the national real estate development investment was 7,859.1 billion yuan, a year - on - year decrease of 15.9%, among which residential investment was 6,043.2 billion yuan, a decrease of 15.0% [1]. 3.3 Trend Intensity - The trend intensity of iron ore is 0, indicating a neutral view, with the value ranging from - 2 (most bearish) to 2 (most bullish) [1]

Report Summary 1. Report Industry Investment Rating - No investment rating information is provided in the report. 2. Core View - The short - term positive factors for iron ore have been realized, and the upward driving force has slowed down [2]. 3. Summary by Directory 3.1 Fundamental Tracking - **Futures Information**: The closing price of iron ore futures was 736.5 yuan/ton, down 0.5 yuan or - 0.07%. The previous day's position was 757,976 lots, with an increase of 13,617 lots [4]. - **Spot Price**: Imported ore prices decreased, with the price of 65% Carajás fines dropping 3 yuan to 863 yuan/ton, 61.5% PB fines down 5 yuan to 773 yuan/ton, 61% Jimbobara fines down 2 yuan to 738 yuan/ton, and 56.5% Super Special fines down 4 yuan to 642 yuan/ton. Domestic ore prices remained unchanged [4]. - **Spread**: The basis of 12505 contract against Super Special fines decreased by 10.4 yuan to 48 yuan/ton, and against Jimbobara fines decreased by 8.2 yuan to 17.3 yuan/ton. The spread between 12509 - 12601 increased by 1 yuan to 38.5 yuan/ton, and 12505 - 12509 increased by 6.5 yuan to 65 yuan/ton. The difference between Carajás fines and PB fines increased by 2 yuan to 90 yuan/ton, PB - Jimbobara decreased by 3 yuan to 35 yuan/ton, and PB - Super Special decreased by 1 yuan to 131 yuan/ton [4]. 3.2 Macro and Industry News - As of the end of April, the balance of broad - money (M2) was 325.17 trillion yuan, a year - on - year increase of 8% [4]. 3.3 Trend Intensity - The trend intensity of iron ore is - 1, indicating a relatively bearish outlook [4].