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Iron Ore Market Analysis Summary

Market Overview

Thursday's iron ore session saw prices decline during the day but rose in the night session. The short-term outlook is volatile, with supply and demand factors currently balancing.

Key Events and Data

• Economic News: A yellow alert for heavy pollution was issued in Jiangsu province, impacting steel cities like徐州 and连云港, potentially affecting iron ore demand.
• Production Stats: In October 2025, key steel firms reported a 4.38% YoY drop in steel output, down to 6,619.83 mt, with 1-10 month cumulative growth of 1.33%. Iron water production fell 6.71% YoY to 6,369.16 mt.
• Weekly Updates: Steel supply increased slightly by 1.9% to 849.91 mt, inventory decreased by 3% to 1,433.1 mt, while consumption rose, with building materials demand up 5.3%.
• Trade Policy: U.S. modified tariffs on Brazilian goods, canceling additional tariffs on specific products effective from November 13.

Market Logic

Elevated production from blast furnaces led to higher steel output but lower iron water levels, expected to drop below 230 mt. Iron ore port stocks peaked at 15,054 mt, with low domestic arrivals offset by active shipments.

Trading Strategy

Short-term iron ore is expected to remain range-bound. For the 2601 contract, key resistance is at 810, and support at 750. Caution is advised due to uncertainties including policy changes and weather alerts.

Note: This summary is based on public information and analyses from GF Golden華 Futures Research. Buyers/sellers assume all risks as per standard disclaimers.