宝城期货螺纹钢早报-20250821

Group 1: Report Industry Investment Rating - No relevant content Group 2: Core Viewpoints of the Report - The short - term and intraday view of rebar 2510 is oscillating weakly, and the medium - term view is oscillating. It is recommended to pay attention to the pressure at the MA5 line. The core logic is that the supply - demand pattern is weak, and steel prices are under pressure [2]. - Under the situation of stable supply and weak demand, the fundamentals of rebar are weak, and steel prices continue to be under pressure. However, due to cost increase and production restriction disturbances, there is resistance to downward movement. It is expected that steel prices will continue to oscillate, and 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 and intraday trends are oscillating weakly, the medium - term trend is oscillating. The view is to pay attention to the pressure at the MA5 line, and the core logic is the weak supply - demand pattern and steel prices under pressure [2]. Market Driving Logic - Tangshan's production restriction disturbances have boosted the steel market sentiment, and steel prices have stopped falling and stabilized. Rebar production has slightly decreased month - on - month but remains at a high level this year, with good profit per ton and high production enthusiasm, so supply pressure still exists [3]. - Rebar demand is weakly declining, high - frequency indicators are decreasing month - on - month, downstream industries have not improved, showing obvious off - season characteristics. Weak demand easily puts pressure on steel prices [3]. - In the situation of stable supply and weak demand, the fundamentals of rebar are weak, and steel prices are under pressure. The relative positives are cost increase and production restriction disturbances, so there is resistance to downward movement. It is expected that steel prices will continue to oscillate, and attention should be paid to the production and sales data released by Steel Union today [3].