宝城期货螺纹钢早报-20250716

Group 1: Report Industry Investment Rating - Not provided Group 2: Core Viewpoints of the Report - The short - term and medium - term trends of rebar 2510 are both oscillating, while the intraday trend is oscillating weakly. Attention should be paid to the support at the MA10 line. The core logic is that the supply - demand pattern is weakly stable, and steel prices are oscillating and falling [2]. - The fundamentals of rebar continue the seasonal weakness. Steel prices are under pressure during the off - season. The low inventory and strong raw materials bring cost support. Under the game of long and short factors, steel prices continue the oscillating operation trend, and attention should be paid to policy changes [3]. Group 3: Summary by Relevant Catalogs Variety Viewpoint Reference - For rebar 2510, the short - term trend is oscillating, the medium - term trend is oscillating, and the intraday trend is oscillating weakly. The reference view is to pay attention to the support at the MA10 line, and the core logic is the weakly stable supply - demand pattern and the oscillating decline of steel prices [2]. Market Driving Logic - Both the supply and demand sides of rebar have weakened. The output of rebar has decreased month - on - month but remains at a high level this year. The profit per ton of the variety is good, and the supply is unlikely to continue to decline. The demand for rebar is weak, and high - frequency demand indicators have weakened and are at a low level in the same period in recent years. The off - season demand characteristics remain, and weak demand is likely to put pressure on steel prices. The low inventory and strong raw materials bring cost support, and steel prices continue to oscillate. Policy changes should be focused on [3].