Report Summary 1) Report Industry Investment Rating - No information provided about the industry investment rating in the given content. 2) Core View of the Report - The supply and demand of rebar are both weakening. Production by construction steel mills is weakening, with weekly rebar output down 854,000 tons from the previous week. Supply has continued to contract to a relatively low level, and the sustainability needs further monitoring. Meanwhile, inventory levels are high, and the positive effects are not strong. Demand for rebar has continued to weaken, with high - frequency demand indicators declining and remaining at a low level in recent years. Downstream conditions have not improved, and off - season demand will continue to be weak, which will further suppress steel prices. With supply contracting to a low level and demand also weakening, the fundamentals have not improved under the situation of weak supply and demand. Steel prices are still under pressure, but due to low valuation and cost support, the subsequent trend is expected to continue the pattern of oscillating to find the bottom. Attention should be paid to changes in demand [2]. 3) Summary by Related Catalogs Supply - The weekly output of rebar is 2 million tons, a decrease of 854,000 tons compared to the previous week, and a decrease of 1.259 million tons compared to the end of last month. It is also 3.394 million tons lower than the same period. The blast furnace capacity utilization rate is 88.80%, up 0.99 percentage points from the previous week, 0.19 percentage points higher than the end of last month, and 0.22 percentage points higher than the same period [1]. Demand - The apparent demand for rebar is 2.1637 million tons, a decrease of 215,000 tons compared to the previous week, and a decrease of 1.581 million tons compared to the end of last month. It is also 1.447 million tons lower than the same period. The weekly average of steel union building materials transactions is 991,000 tons, an increase of 27,000 tons compared to the previous week, a decrease of 52,000 tons compared to the end of last month, and a decrease of 127,000 tons compared to the same period [1]. Inventory - The total inventory of rebar is 5.7617 million tons, a decrease of 1.637 million tons compared to the previous week, and a decrease of 2.635 million tons compared to the end of last month. It is 13.068 million tons higher than the same period. The in - plant inventory is 1.6042 million tons, a decrease of 642,000 tons compared to the previous week, and a decrease of 1.129 million tons compared to the end of last month. It is 1.106 million tons higher than the same period. The social inventory is 4.1575 million tons, a decrease of 995,000 tons compared to the previous week, and a decrease of 1.506 million tons compared to the end of last month. It is 11.962 million tons higher than the same period [1].
螺纹钢周度数据（20251114）-20251114
Bao Cheng Qi Huo·2025-11-14 02:56