宝城期货螺纹钢早报（2026年1月12日）-20260112

Report Summary 1. Report Industry Investment Rating - No investment rating information is provided in the report. 2. Core Viewpoint - The steel price of rebar 2605 is expected to continue the low - level oscillation, with the short - term, medium - term and intraday trends being oscillation, oscillation and oscillation with a weak bias respectively, due to the weakening fundamentals and the pressure on steel prices during the off - season [2][3] 3. Summary by Relevant Content 3.1 Variety Viewpoint Reference - For rebar 2605, the short - term view is oscillation, the medium - term view is oscillation, and the intraday view is oscillation with a weak bias, with an overall view of low - level oscillation. The core logic is the weakening fundamentals and the pressure on steel prices during the off - season. The calculation methods for price rise and fall amplitude and strength classification are also provided [2] 3.2 Market Driving Logic - Over the weekend, steel spot prices remained stable with weak trading. The supply - demand pattern of rebar is weak, with inventory starting to increase. Rebar supply is continuously rising and has room for further increase, weakening the positive effect of the low - supply pattern. Meanwhile, rebar demand is sluggish, with high - frequency demand indicators at a low level in recent years, and the downstream industry has not improved, continuing the seasonal weakness and dragging down steel prices. The current situation is that supply increases while demand is weak, and the fundamental contradictions are accumulating, putting pressure on steel prices during the off - season. The relatively positive factors are the acceptable commodity sentiment and cost support [3]