宝城期货螺纹钢早报-20250822

Report Summary 1) Reported Industry Investment Rating No information provided on the industry investment rating. 2) Core View of the Report The steel price of rebar is expected to continue the weak oscillatory trend. The industry contradictions are accumulating, and the steel price is under pressure. However, the cost has increased, limiting the downward space. The performance of demand should be closely monitored [1][2]. 3) Summaries Based on Related Contents Variety View Reference - For rebar 2510, the short - term and intraday trends are weakly oscillatory, and the medium - term trend is oscillatory. Attention should be paid to the pressure at the MA5 line, with the core logic being the accumulation of industrial contradictions leading to the weak operation of steel prices [1]. Market Driving Logic - The supply - demand pattern of rebar remains weak, and inventory continues to accumulate. The weekly output of rebar decreased by 58,000 tons compared to the previous week, but the sustainability of production cuts needs to be tracked due to acceptable profit per ton. - The demand for rebar is at a low level. The weekly apparent demand increased by 48,600 tons compared to the previous week, and the high - frequency daily trading volume remains sluggish. Both are at the low level of the same period, and the off - season characteristics persist, putting pressure on the steel price. - The supply and demand of rebar are operating steadily, but industrial contradictions are accumulating. The steel price is under pressure, and the increase in cost limits the downward space [2].