Core Viewpoint - The rebar futures market shows a significant increase, with the main contract rising by 2.15% to 3224.00 CNY/ton, despite a decline in production and demand indicators in the previous week [1]. Group 1: Production and Demand - In the Beijing-Tianjin-Hebei region, the capacity utilization rate of 27 rebar production enterprises decreased by 3.55% compared to the previous week, with full-process steel mills down by 4.53% and billet mills remaining stable [2]. - Rebar production reached 2.09 million tons, a decrease of 76,000 tons or 3.51% from the previous week, while apparent demand fell to 2.06 million tons, down by 153,300 tons or 6.92% [2]. Group 2: Profitability and Market Sentiment - As of July 21, the profit margin for steel mills on rebar was -57.64 CNY/ton, a decrease of 38.4 CNY from the previous trading day, indicating pressure on profitability [3]. - Analysts from Hualian Futures noted a significant reduction in both long and short process production, with weak seasonal demand and slight inventory accumulation, suggesting a weak supply-demand balance [4]. - Ningzheng Futures highlighted that the central urban work conference emphasized accelerating the construction of a new model for real estate development, which did not exceed expectations, but overall economic performance remains strong, supporting market sentiment [4].
短期政策预期回暖背景下 螺纹钢震荡偏强运行
Jin Tou Wang·2025-07-21 08:39