宝城期货螺纹钢早报-20250624

Group 1: Report Investment Rating - No investment rating information is provided in the report. Group 2: Core View - The short - term, medium - term, and intraday views of rebar 2510 are shock, shock, and shock - weak respectively. It is recommended to pay attention to the support at the MA5 line. The core logic is that the supply - demand pattern is weakly stable, and steel prices will continue to fluctuate [2]. Group 3: Summary by Related Content Market Driving Logic - The fundamentals of rebar continue the seasonal weakness. Construction steel mills have resumed production, and the weekly output of rebar has increased, but the increase is limited and still at a relatively low level. The supply side is operating stably [3]. - Rebar demand shows a seasonal decline. The weekly apparent demand has decreased slightly month - on - month, and high - frequency transactions are relatively sluggish. Weak demand will continue to suppress steel prices [3]. - Currently, rebar supply is increasing while demand is seasonally weak. Under the situation of increasing supply and weak demand, the fundamentals remain weakly stable, and steel prices are still under pressure. The relatively good news is that inventory is at a low level, and the real - world contradictions are limited. It is expected that steel prices will maintain a low - level shock operation. Attention should be paid to changes on the supply side [3].