宝城期货螺纹钢早报-20250513

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core Viewpoints - The short - term, medium - term, and intraday views on rebar 2510 are "oscillation", "oscillation", and "oscillation with a weak bias" respectively. It is recommended to pay attention to the support at the MA5 line. The core logic is that macro - level benefits have been realized, and steel prices are oscillating [2]. - The steel price is under pressure due to the weakening supply - demand pattern of rebar. Although the supply has contracted, it lacks sustainability, and the demand has weakened more significantly. Under the game of long and short factors, the steel price will continue to oscillate, and attention should be paid to the demand performance [3]. 3. Summary by Relevant Content Variety Viewpoint Reference - For rebar 2510, in the short - term (within one week), medium - term (two weeks to one month), and intraday, the views are oscillation, oscillation, and oscillation with a weak bias respectively. The reference is to focus on the support at the MA5 line, based on the fact that macro - level benefits have been realized and steel prices are oscillating [2]. Market Driving Logic - The Sino - US trade negotiation has made substantial progress, and market sentiment has improved, leading to a collective rebound of ferrous metals. However, the supply - demand pattern of rebar is weakening. Supply contraction lacks sustainability, demand is weakening more significantly, and inventory has started to accumulate. The demand for rebar will seasonally decline, and the fundamentals are difficult to improve substantially, so the steel price is under pressure and will continue to oscillate. Attention should be paid to the demand situation [3].