宝城期货螺纹钢早报-20250807

Report Summary Investment Rating - No industry investment rating is provided in the report. Core View - The supply - demand pattern of rebar is weakly stable, and steel prices are expected to continue the oscillatory trend. Pay attention to the support at the MA20 line and the production and sales data released by Steel Union today [2][3]. Summary by Related Content Variety View Reference - For rebar 2510, the short - term, medium - term, and intraday trends are oscillatory, oscillatory, and weakly oscillatory respectively. The core logic is that the supply - demand pattern is weakly stable, causing steel prices to oscillate. It is recommended to pay attention to the support at the MA20 line [2]. Market Driving Logic - The supply - demand pattern of rebar is weakly running. The production of construction steel mills is weakening, with weekly production decreasing month - on - month. However, the profit per ton of the variety is good, so the sustainability of supply contraction is not strong. Meanwhile, the demand for rebar has weakened again, with high - frequency indicators showing a month - on - month decrease and being at a low level in the same period in recent years. The off - season demand is weak, continuing to put pressure on steel prices. In a low - inventory situation, the real - world contradictions of rebar are not significant. The strong performance of coking coal and coke drives steel prices to stabilize oscillatory. But with the supply - demand being weak, the fundamental situation is weakly stable, and the upward driving force is also not strong [3].