宝城期货螺纹钢早报-20250918

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Report's Core Views - The short - term, medium - term, and intraday views of rebar 2601 are shock, shock, and shock - weak respectively. It is recommended to pay attention to the support at the MA5 line. The core logic is that the supply - demand pattern is weakly stable, and steel prices will continue to fluctuate [2]. - The supply - demand pattern of rebar is weakly stable. The weekly output has decreased, but the production cut in the peak season is unlikely to last, and inventory is increasing, so supply benefits are limited. Demand is weak, with high - frequency indicators at a low level in recent years and no improvement in downstream industries, resulting in insufficient peak - season demand. In the situation of weak supply and demand, the fundamentals have not improved, and industrial contradictions are accumulating. Steel prices are under pressure, but there are cost increases and production - limit disturbances. With the game between long and short factors, steel prices are expected to continue to fluctuate. Attention should be paid to the production and sales data released by Steel Union today [3]. Group 3: Summary by Related Catalogs Variety View Reference - For rebar 2601, the short - term view is shock, the medium - term view is shock, and the intraday view is shock - weak. The reference is to pay attention to the support at the MA5 line, and the core logic is the weakly - stable supply - demand pattern and the continuation of steel - price fluctuations [2]. Market Driving Logic - The supply - demand pattern of rebar is weakly stable. Weekly output has decreased, inventory is increasing, and supply benefits are limited. Demand is weak, with high - frequency indicators at a low level in recent years and no improvement in downstream industries. The fundamentals have not improved, and industrial contradictions are accumulating. Steel prices are under pressure, but there are cost increases and production - limit disturbances. With the game between long and short factors, steel prices are expected to continue to fluctuate. Attention should be paid to the production and sales data released by Steel Union today [3].