宝城期货螺纹钢早报-20250428

Report Summary 1. Investment Rating No investment rating for the industry is provided in the report. 2. Core View - The steel price of rebar 2510 will continue to fluctuate in the short - term (within a week), medium - term (two weeks to one month), and show a slightly weak trend intraday. It is advisable to pay attention to the support at the MA5 line. The core logic is that the reduction policy is fermenting, leading to a rebound of steel prices after hitting the bottom [2]. - The reduction policy expectation boosts the steel market sentiment, but the fundamentals improvement is limited under the situation of stable supply and weak demand. The steel price is under pressure and continues to fluctuate due to the game between long and short factors. Be cautious of the falsification of the production restriction policy [3]. 3. Summary by Directory Variety View Reference - For rebar 2510, the short - term and medium - term trends are both oscillatory, and the intraday trend is slightly weak. The reference view is to pay attention to the support at the MA5 line. The core logic is the fermentation of the reduction policy and the rebound of steel prices after hitting the bottom [2]. Market Driving Logic - The expectation of the reduction policy boosts the steel market sentiment, and the futures prices rebounded last Friday night. The rebar production declined slightly, and the supply is weakly stable. The weekly apparent demand decreased month - on - month, and the demand weakened again. The fundamentals improvement is limited under the situation of stable supply and weak demand, and the steel price is under pressure. The positive factor is the boost of the reduction policy. The steel price will continue to fluctuate due to the game between long and short factors, and beware of the falsification of the production restriction policy [3].