This report is provided by MacroTerms.com

Data as of: 2026-10-13 · Settlement: Exchange settlement (15:00 Beijing close, vs prior settlement)

Iron Ore (DCE.I) In-Depth Analysis Report | Bearish Breakout, Target 674 | 2026-10-14

This report maintains a bearish view on iron ore (DCE.I2701), with the core logic being that the price has effectively broken below the lower edge of the 20-day channel and shorts are actively adding positions, indicating significant short-term downside pressure. Technically, the [10-13 settlement] of 679.5 yuan/ton has pierced the 20-day low of 678.5 yuan, and the night session continued weak; fundamentally, port inventories are at a five-year seasonal high, and steel mill margins are under pressure, suppressing restocking willingness, leaving the supply-demand balance loose. The condition for invalidation is a daily close back above 684.17 yuan (pivot point P) or the night session reclaiming the 680 yuan integer level on volume. The current risk is that China's CPI and PPI data on October 14, if stronger than expected, could trigger macro sentiment disruption, but the short-term trend remains dominated by shorts.