宝城期货螺纹钢早报-20250707

Group 1: Report Investment Rating - There is no information about the industry investment rating in the report. Group 2: Core Viewpoints - For the rebar 2510 contract, the short - term and medium - term trends are expected to be volatile, while the intraday trend is expected to be weakly volatile. It is recommended to pay attention to the support at the MA5 line, with the core logic being the seasonal weakness of the fundamentals and the continuation of the volatile steel prices [2]. - The policy's positive expectations drive the steel prices to rise, but the fundamentals of rebar continue to be seasonally weak with limited upward momentum. The low - inventory pattern remains unchanged. With the game between long and short factors, the steel prices maintain a volatile trend, and attention should be paid to the demand performance [3]. Group 3: Summary by Relevant Content Market Situation - Over the weekend, the spot prices of steel products were weakly stable, and the trading volume was weak. The sentiment in the real - market was relatively cautious [3]. Supply - Due to the steel mills' product conversion, the output of rebar has been continuously increasing, and the supply pressure has increased [3]. Demand - The demand for rebar is stable. The high - frequency demand indicators have rebounded under the stimulation of the speculative demand, but they are still at the low level of the same period, and the improvement space in the off - season is questionable [3]. Inventory - The low - inventory pattern of rebar remains unchanged [3].