宝城期货螺纹钢早报（2025年12月2日）-20251202

Group 1: Report Industry Investment Rating - Not provided in the content Group 2: Core Viewpoints of the Report - The short - term, medium - term, and intraday views on rebar 2605 are all "shock - biased strong", with the core logic being the fermentation of optimistic sentiment and the stable shock of steel prices [2] - Due to the approaching major conference, optimistic expectations are fermenting, and the ferrous metals are rising collectively. The supply and demand pattern of rebar is weakly stable, with supply slightly contracting but the sustainability of short - process steel mill production cuts in doubt. Demand is also weakly stable, with high - frequency indicators stabilizing at a low level in recent years, and is expected to decline seasonally. Under the dual - weak supply - demand situation, the steel price is supported by market sentiment, and it will run with a strong - bias shock in the short term [3] Group 3: Summary by Relevant Catalog Variety Viewpoint Reference - For rebar 2605, the short - term view is "shock", the medium - term view is "shock", and the intraday view is "shock - biased strong". The overall view reference is "shock - biased strong", and the core logic is the fermentation of optimistic sentiment and the stable shock of steel prices [2] Market Driving Logic - With a major conference approaching, optimistic expectations are fermenting, leading to a collective rise in ferrous metals. The supply and demand of rebar is weakly stable, with supply slightly contracting but the sustainability of short - process steel mill production cuts uncertain. Demand is also weakly stable, with high - frequency indicators stabilizing at a low level in recent years and expected to decline seasonally. Market sentiment supports the steel price, and it will run with a strong - bias shock in the short term, and attention should be paid to the demand situation [3]