螺纹钢期价连续下挫 钢价短期偏弱运行

Core Viewpoint - The black commodity sector has experienced significant declines, with iron ore prices falling below 800 yuan per ton and rebar futures continuing to drop due to disappointing demand expectations in the real estate and infrastructure sectors [1][2] Supply and Demand Analysis - Domestic rebar production increased by 10,600 tons week-on-week to 3.726 million tons, and year-on-year it rose by 277,500 tons [1] - Rebar inventory decreased significantly, with social inventory down by 124,800 tons to 8.811 million tons and factory inventory down by 28,900 tons to 3.5528 million tons [1] - Apparent consumption of rebar increased by 97,700 tons week-on-week to 3.8797 million tons, and year-on-year it increased by 229,100 tons [1] - The current profit margins for both long-process and short-process steel mills remain negative, although some electric arc furnaces have resumed production due to falling scrap steel prices [1] Market Sentiment - The demand for rebar has not met expectations, leading to a negative impact on market sentiment [2] - The average daily transaction volume of construction materials nationwide decreased by 6.06% week-on-week to 210,400 tons [1] - In the Hangzhou area, despite a reduction in rebar inventory to 919,000 tons, the average daily inventory turnover was only 39,000 tons, down 2.74% from the previous week [1] - Recent macroeconomic data shows that the growth rate of new real estate starts in August was 2.41%, a significant drop of 8.91 percentage points from July, while construction growth also fell by 3.41 percentage points to 13.22% [1]