宝城期货螺纹钢早报-20251204

Report Summary 1. Investment Rating - No investment rating is provided in the report [1][2][3] 2. Core View - The supply - demand pattern of rebar is weakly stable, and the steel price is expected to continue the volatile trend. The short - term, medium - term, and intraday views on rebar 2605 are all volatile, with the intraday view being weakly volatile [2][3] 3. Summary by Related Content - Variety View Reference - For rebar 2605, the short - term, medium - term, and intraday views are all volatile, with the intraday view being weakly volatile. The core logic is the weakly stable supply - demand pattern and the continuation of the steel price's volatile trend [2] - Market Driving Logic - The supply - demand pattern of rebar is weakly stable. Rebar production has declined, but the profit of short - process steel mills has improved, so the supply contraction is hard to sustain. Demand has weakened, high - frequency indicators remain at a low level, and downstream industries have not improved. The demand is expected to decline seasonally, putting pressure on the steel price. Although market sentiment has warmed up and the steel price has stabilized recently, there is no substantial improvement in the rebar's fundamentals under the situation of weak supply and demand, and the upward driving force for the steel price is not strong [3]