宝城期货螺纹钢早报-20250709

Report Summary 1) Report Industry Investment Rating No relevant content provided. 2) Core Viewpoints - The supply - demand pattern of rebar is weakly stable, and steel prices will continue to fluctuate. For rebar 2510, it is expected to fluctuate in the short - and medium - term, and show a weakly fluctuating trend intraday. Attention should be paid to the support at the MA60 line [2][3]. 3) Summary by Related Catalogs Variety Viewpoint Reference - For rebar 2510, the short - term view is "fluctuation", the medium - term view is "fluctuation", and the intraday view is "weakly fluctuating". The reference opinion is to pay attention to the support at the MA60 line, with the core logic being the weakly stable supply - demand pattern and the continuation of steel price fluctuations [2]. Market Driving Logic - The supply - demand pattern of rebar continues to operate weakly and stably. Construction steel mills are continuously increasing production, and rebar output is rising, increasing supply pressure. Meanwhile, rebar demand remains seasonally weak, with a slight week - on - week increase in weekly performance, but high - frequency trading remains sluggish, both at the same - period low. The downstream industry has not improved, and the weak demand pattern remains unchanged. With supply rising and demand remaining weak, the fundamentals are weak, and steel prices in the off - season are still prone to pressure. The relatively positive factors are the low inventory level, small real - world contradictions, and the strong trend of raw materials. Under the game of long and short factors, steel prices maintain a fluctuating trend, and attention should be paid to the demand performance [3].