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データ基準日: 2026-10-26 · 決済基準: 取引所決済価格（北京時間15:00終値、前回決済比）

Iron Ore (DCE.I) In-Depth Analysis Report | Bearish, Target 664.5 | 2026-10-27

Bearish. Iron ore is currently at 671.5, having broken below the 20-day moving average of 664.5, and the night session closed at 664.5, indicating the bears hold the advantage. Core rationale: 1) The price has broken below the key 20-day support level of 664.5, targeting the 20-day pivot S1 at 667.67;
2) The net short position of the top 20 seats is 33,306 lots, narrowing by 1,994 lots from the previous day but still maintaining high short pressure;
3) The international-to-China market price ratio premium is +7.82%, indicating that the Chinese market is relatively expensive compared with the international market, which transmits a bearish signal. Invalidation condition: if the daily close reclaims 672.33 and holds on the retest.