宝城期货螺纹钢早报-20250701

Group 1: Report Investment Rating - No investment rating information provided Group 2: Core Viewpoints - The short - term, medium - term, and intraday trends of rebar 2510 are expected to be volatile, with an intraday bias towards strength. Attention should be paid to the support at the MA20 line, and the core logic is that the real - world contradictions are limited and steel prices are oscillating at low levels [2] - The supply - demand pattern of rebar has not changed significantly. Supply pressure is increasing as production by construction steel mills is active and weekly output is rising. Demand is weak, showing seasonal characteristics of the off - season. The steel price is under pressure, but the lack of an inventory inflection point means the real - world contradictions are small, and the steel price is expected to continue to oscillate. Attention should be paid to demand changes [3] Group 3: Summary by Related Contents Variety Viewpoint Reference - For rebar 2510, the short - term, medium - term, and intraday trends are "volatile", "volatile", and "volatile with a bias towards strength" respectively. The reference view is to focus on the support at the MA20 line, and the core logic is that real - world contradictions are limited and steel prices are oscillating at low levels [2] Market Driving Logic - The supply - demand situation of rebar shows an increase in supply pressure as steel mill production is active and a weakening in demand due to off - season characteristics. This "supply increase and demand weakness" situation leads to a seasonal weakening of the fundamentals, pressuring the steel price. However, the absence of an inventory inflection point limits real - world contradictions, and the steel price is expected to oscillate. Attention should be paid to demand changes [3]