Nanhua Futures analysts stated in a research report that the downside risk for chasing the iron ore rally has increased.

UBS pointed out that the investment logic for AI is shifting from competition in models towards infrastructure development, with power supply, data center capacity, and financing capability becoming critical factors affecting industry expansion. As demand remains resilient, the importance of project delivery speed, supply chain security, and the provision of key raw materials is rising further. Companies that control scarce resources and infrastructure bottlenecks are expected to attract more market attention.