宝城期货螺纹钢早报-20250805

Report Summary 1) Report Industry Investment Rating No investment rating is provided in the report. 2) Core View of the Report The steel price of rebar is expected to continue the weak and volatile operation, and attention should be paid to the production situation of steel mills. The short - term and intraday views of rebar 2510 are weak and volatile, and the medium - term view is volatile. It is recommended to pay attention to the pressure at the MA5 line [2][3]. 3) Summary by Relevant Catalogs Variety View Reference - For rebar 2510, the short - term view is weak and volatile, the medium - term view is volatile, and the intraday view is also weak and volatile. The reference view is to pay attention to the pressure at the MA5 line, with the core logic being that the fundamentals are weakly stable and the steel price oscillates weakly [2]. Market Driving Logic - The fundamentals of rebar continue the seasonal weakness. The weekly output of rebar has a slight month - on - month decline, and the supply is weakly stable. However, the profit per ton of the variety is good, so the sustainability of production reduction is not strong. - The demand for rebar has weakened again. The high - frequency indicators have a month - on - month decline and are at a low level in the same period in recent years. The off - season characteristics remain, and the weak demand easily puts pressure on the steel price. - Under the situation of weak supply and demand, the fundamentals of rebar are weak, and the steel price is under pressure. But due to the low - inventory pattern, the industrial contradictions are not significant, and the downward space is limited [3].