宝城期货螺纹钢早报-20250520

Group 1: Report Investment Rating - There is no information about the industry investment rating in the report. Group 2: Core Viewpoints - The short - term, medium - term, and intraday trends of rebar 2510 are expected to be oscillatory, oscillatory, and weakly oscillatory respectively. Attention should be paid to the pressure at the MA5 line, and the steel price is expected to oscillate to find the bottom due to the weakening demand expectation [2]. - The supply of rebar remains stable at a high level. Although the demand has recovered, there is a seasonal weakening expectation. Under high supply, industrial contradictions are likely to accumulate once the demand weakens, and the steel price will continue to be under pressure. With the low inventory as a positive factor, the steel price is expected to continue the oscillatory bottom - finding trend, and the demand performance should be monitored [3]. Group 3: Summary by Directory Variety Viewpoint Reference - For rebar 2510, the short - term view is oscillatory, the medium - term view is oscillatory, and the intraday view is weakly oscillatory. The reference is to pay attention to the pressure at the MA5 line, and the core logic is the weakening demand expectation and the steel price oscillating to find the bottom [2]. Market Driving Logic - The supply of rebar is stable at a high level. The demand, though recovered, has a seasonal weakening expectation. High supply combined with weakening demand may lead to the accumulation of industrial contradictions and pressure on steel prices. With low inventory as a positive factor, the steel price is expected to oscillate to find the bottom, and the focus is on demand performance [3].