【华泰期货】Weekly report:The market is mainly wait-and-see, iron ore fell slightly-251214（10页）.pdf

1、Weekly report|2025-12-14 Please read the disclaimer on the last page of this report carefully 1/10 1/10 2025Futures Research Report The market is mainly wait-and-see,iron ore fell slightly Market Analysis Iron ore prices fell slightly this week.As of Fridays close,the main iron ore futures contract

2、closed at 760.50 yuan/ton,down 25.00 yuan/ton month-on-month,down 3.18%Mysteel 62%Australian powder forward price index 103.7 US dollars/ton,down 2 US dollars/ton week-on-week,down 1.89%.The price of PB powder in Qingdao Port was RMB 782.00/ton,down RMB 5.00/ton on a week-on-week basis,or 0.64%.On t

3、he supply side:Mysteel statistics show that the global iron ore shipped 33.686 million tons in this period,an increase of 450,000 tons on a week-on-week basis.In the current period,the arrival volume of iron ore from 45 ports was 24.81 million tons,a decrease of 2.19 million tons on a week-on-week b

4、asis.In terms of demand:Mysteel surveyed 247 steel mills this week with a blast furnace operating rate of 78.63%,a decrease of 1.53 percentage points from the previous week and a decrease of 1.92 percentage points from the previous year;the blast furnace ironmaking capacity utilization rate was 85.9

5、2%,a decrease of 1.16 percentage points from the previous week and a decrease of 1.36 percentage points from the previous year;The profit rate of steel mills was 35.93%,a decrease of 0.43 percentage points from last week and a decrease of 12.12 percentage points from last year;the average daily molt

6、en iron output was 2.292 million tons,a decrease of 31,000 tons from last week and a decrease of 32,700 tons from last year.In terms of inventory:According to Mysteels statistics,the total iron ore inventory of 45 ports nationwide was 154.31 million tons,an increase of 1.31 million tons month-on-mon