宝城期货螺纹钢早报-20250731

Group 1: Report Industry Investment Rating - No relevant content Group 2: Core Viewpoints of the Report - The short - term view of rebar 2510 is weak oscillation, the medium - term view is oscillation, and the intraday view is also weak oscillation. It is recommended to pay attention to the pressure at the MA5 line. The core logic is the weak supply - demand pattern and the weak oscillation of steel prices [2]. - Under the situation of increasing supply and demand, the fundamentals of rebar have no substantial improvement, industrial contradictions accumulate, and steel prices are under pressure. However, due to the low inventory, the real - world contradictions are not significant. It is expected that steel prices will continue to oscillate at a high level. Attention should be paid to the production and sales data released by Steel Union today [3]. Group 3: Summary by Related Catalogs Variety Viewpoint Reference - For rebar 2510, the short - term is weak oscillation, the medium - term is oscillation, and the intraday is weak oscillation. The reference view is to pay attention to the pressure at the MA5 line, and the core logic is the weak supply - demand pattern and the weak oscillation of steel prices. There are also explanations for the time - cycle and the calculation of price changes [2]. Market Driving Logic - Policy expectations have been fulfilled, market sentiment has weakened. The supply of rebar has increased as expected, and there is room for further increase due to good profit per ton. The demand has improved, mainly due to the increase in speculative demand, but the improvement in downstream industries is not strong. Overall, the fundamentals have not improved substantially, and steel prices are under pressure but will continue to oscillate at a high level [3].