宝城期货螺纹钢早报（2025年11月6日）-20251106

Group 1: Report Industry Investment Rating - No relevant content found Group 2: Core Viewpoints of the Report - The short - term view of rebar 2601 is weakly oscillating, the medium - term view is oscillating, and the intraday view is weakly oscillating. Attention should be paid to the pressure at the MA5 line. The core logic is that the fundamentals are poor and steel prices are weakly seeking the bottom [2]. - Rebar fundamentals are weak. Steel prices are under pressure and are expected to continue the oscillating bottom - seeking trend, with cost support being a relative positive factor. 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 2601, the short - term is weakly oscillating, the medium - term is oscillating, and the intraday is weakly oscillating. The view is to pay attention to the MA5 line pressure, with the core logic of poor fundamentals and steel prices seeking the bottom weakly. There are also explanations for time - cycle and amplitude calculation [2]. Market Driving Logic - Rebar fundamentals are weak. Production is increasing, inventory is high, supply pressure is growing. Although demand has a seasonal improvement, it is still at a low level in the same period in recent years and will weaken at the end of the peak season. In the situation of increasing supply and demand, the fundamentals have not improved, and steel prices are under pressure. Cost support is a positive factor, and the trend is expected to continue to oscillate and seek the bottom. Attention should be paid to the production and sales data released by Steel Union today [3].