There is an expectation of replenishment in the downstream before the May Day Festival, and the iron ore disk may maintain a strong trend

Gold ten futures April 25th news, Zhengxin futures pointed out that yesterday the main contract of iron ore 2409 rebounded significantly, rising more than 3%, closing at 888 yuan/ton, night continued to strengthen, the main contract of iron ore on the SGX once rose more than 5%. On the supply side, shipments returned to normal, Australia and Pakistan shipments have rebounded to the previous average weekly shipment level, and subsequent supply may be further loosened. Port volume and port inventories have declined, but they are still at a high level in the same period, and the overall resources are still abundant. On the demand side, the prices of mainstream varieties in the cash market are running strongly. According to SMM research, the current blast furnace operating rate and average daily output of hot metal continue to rise, and the marginal improvement of iron ore supply and demand. Overall, market sentiment has improved, and there are expectations of replenishment in the downstream before May Day, and the disk may maintain a strong trend.