宝城期货螺纹钢早报（2025年12月8日）-20251208

Report Summary 1. Report Industry Investment Rating - No investment rating is provided in the report. 2. Core Viewpoint - The report believes that the supply - demand pattern of rebar is weakly stable, and the steel price will fluctuate at a low level. The short - term, medium - term, and intraday trends of rebar 2605 are all expected to be in a state of weak fluctuation [2][3]. 3. Summary by Relevant Content 3.1 Variety Viewpoint Reference - For rebar 2605, the short - term, medium - term, and intraday trends are respectively: short - term is volatile, medium - term is volatile, and intraday is weakly volatile. The overall view is weakly volatile, with the core logic being the weakly stable supply - demand pattern and the steel price fluctuating at a low level [2]. 3.2 Market Driving Logic - The weekend spot price of rebar decreased slightly, and the trading volume was weak. The supply - demand pattern of rebar is weakly stable. Rebar production has dropped significantly, and the supply has reached a low level, which supports the steel price. However, the profit of short - process steel mills is improving, and the sustainability of production cuts needs to be tracked. Meanwhile, rebar demand is weak, high - frequency indicators are running weakly at a low level, and downstream industries have not improved. Demand continues to decline seasonally, putting pressure on the steel price. Currently, the supply of rebar is at a low level, providing support for the price, but the demand is also weakening. The fundamentals of rebar have not improved substantially, and the upward driving force is questionable. The relatively positive factor is the low valuation. It is expected that the trend will continue to fluctuate, and attention should be paid to the production situation of steel mills [3].