螺纹钢需求表现依然偏弱 期货价格或仍有回调空间

News Summary Core Viewpoint - The rebar steel market is experiencing a shift in supply and demand dynamics, with increasing production and inventory levels, while demand remains weak, leading to downward pressure on prices [2][3]. Group 1: Supply Dynamics - As of January 8, rebar production has increased for the fourth consecutive week, with factory and social inventories turning from decline to increase [1] - The rebar social inventory reached 2.9018 million tons, an increase of 75,200 tons or 2.66% from the previous week [1] - The rebar factory inventory was reported at 210,000 tons, remaining stable compared to the previous trading day [1] Group 2: Demand Dynamics - Rebar demand has decreased for the third consecutive week, with a total demand of 1.7496 million tons, down by 254,800 tons or 12.71% from the previous week [1] - National construction material factory rebar inventory recorded 1.4793 million tons, an increase of 85,600 tons or 6.14% from the previous week [1] - Over the past month, the total increase in national construction material factory rebar inventory was 71,300 tons, reflecting a 5.06% rise [1] Group 3: Market Outlook - According to Baocheng Futures, the supply of rebar is increasing while demand remains weak, leading to a bearish outlook for steel prices [2] - The overall supply-demand structure for steel is weakening, with expectations of continued price adjustments as demand declines more significantly than production cuts [3] - The market is expected to maintain a volatile trend, with opportunities to increase short positions being monitored [3]