螺纹钢：宏观情绪提振，偏强震荡，热轧卷板，宏观情绪提振，偏强震荡

Group 1: Report Industry Investment Rating - No information provided Group 2: Core Viewpoints - The prices of rebar and hot-rolled coil are expected to fluctuate strongly due to the boost of macro sentiment [2][3] Group 3: Summary by Relevant Catalogs 1. Fundamental Tracking - Futures Information: The closing price of RB2510 was 3,076 yuan/ton, up 44 yuan/ton (1.45%); the closing price of HC2510 was 3,208 yuan/ton, up 46 yuan/ton (1.45%). The trading volume of RB2510 was 1,776,150 lots, and the open interest was 2,237,249 lots, an increase of 10,870 lots. The trading volume of HC2510 was 694,556 lots, and the open interest was 1,595,284 lots, a decrease of 474 lots [3] - Spot Price Information: The spot prices of rebar and hot-rolled coil in different regions had different changes. For example, the rebar price in Guangzhou increased by 20 yuan/ton, and the hot-rolled coil price in Shanghai increased by 30 yuan/ton [3] - Basis and Spread Information: The basis of RB2510 decreased by 11 yuan/ton to 74 yuan/ton, and the basis of HC2510 increased by 13 yuan/ton to 42 yuan/ton. The spread between HC2510 and RB2510 increased by 6 yuan/ton to 132 yuan/ton [3] 2. Macro and Industry News - Steel Union Weekly Data (July 3): Rebar production increased by 3.24 tons, hot-rolled coil production increased by 0.9 tons, and the total production of five major varieties increased by 4.17 tons. Rebar inventory decreased by 3.79 tons, hot-rolled coil inventory increased by 3.77 tons, and the total inventory of five major varieties decreased by 0.1 tons. Rebar apparent demand increased by 4.96 tons, hot-rolled coil apparent demand decreased by 0.29 tons, and the total apparent demand of five major varieties decreased by 16.77 tons [4] - Social Inventory of Five Major Steel Products (Late June): The social inventory of five major steel products in 21 cities was 769 million tons, a decrease of 7 million tons (0.9%) from the previous month, with a narrowing decline. Compared with the beginning of the year, it increased by 110 million tons (16.7%); compared with the same period last year, it decreased by 272 million tons (26.1%) [4][5] - Policy News: On July 1, the Central Financial and Economic Commission meeting proposed to regulate the low-price and disorderly competition of enterprises in accordance with laws and regulations, guide enterprises to improve product quality, and promote the orderly withdrawal of backward production capacity [5] - Economic Indexes: In June, the manufacturing PMI, non-manufacturing business activity index, and comprehensive PMI output index were 49.7%, 50.5%, and 50.7% respectively, up 0.2, 0.2, and 0.3 percentage points from the previous month, indicating an overall expansion of China's economic prosperity [5] 3. Trend Intensity - The trend intensity of rebar and hot-rolled coil is 1, indicating a relatively strong trend [5]