宝城期货螺纹钢早报（2025 年 9 月 8 日）-20250908

Report Summary 1. Investment Rating No industry investment rating is provided in the report [1][2][3] 2. Core View The short - term view of rebar 2601 is weak and oscillating, the medium - term view is oscillating, and the intraday view is also weak and oscillating. It is recommended to pay attention to the pressure at the MA10 line. The core logic is that the demand is weak and steel prices are seeking the bottom weakly. In the current situation of weak supply and demand, the fundamentals of rebar have not improved, and the steel prices are under pressure. The steel prices will continue the oscillating bottom - seeking trend in the short term, and attention should be paid to the demand performance [2][3] 3. Summary by Directory 3.1 Variety View Reference - For rebar 2601, the short - term trend is weak and oscillating, the medium - term is oscillating, and the intraday is also weak and oscillating. The reference view is to pay attention to the pressure at the MA10 line, and the core logic is weak demand and steel prices seeking the bottom weakly [2] 3.2 Market Driving Logic - Over the weekend, the spot price of steel was weakly stable with average trading volume. The fundamentals of rebar changed little. Weekly production decreased slightly, but the enthusiasm for production in the peak season remained, and the supply pressure was not relieved [3] - The demand for rebar was weak. High - frequency indicators were still at the low level in the same period in recent years, and the downstream industries did not improve, so the potential for demand improvement was in doubt [3] - In the current situation of weak supply and demand, the fundamentals of rebar have not improved, inventory has continued to increase, and steel prices are easily under pressure. With the relatively positive peak - season expectation and cost increase, the steel prices will continue the oscillating bottom - seeking trend in the short term, and attention should be paid to the demand performance [3]