格林期货早盘提示：钢材-20260211

1. Report Industry Investment Rating - The investment rating for the steel sector in the black building materials is "oscillating" [1] 2. Core Viewpoint of the Report - The steel market shows a pattern of decline during the day on Tuesday and a rise at night. As the Spring Festival approaches, winter storage is basically over, and the spot trading of construction steel has reached a low point. The market is mostly waiting for the recovery of demand after the festival. The key support level for rebar is 3050, and it is not easy to break through effectively in the short term. It is recommended to hold a light position or be out of the market during the holiday [1] 3. Summary by Relevant Catalogs 3.1 Market Review - Rebar and hot-rolled coils closed down on Tuesday and up at night [1] 3.2 Important Information - From February 2nd to February 8th, the total transaction (signing) area of newly built commercial housing in 10 key cities was 1.3061 million square meters, a 12% decrease from the previous week [1] - In 2025, China's logistics demand scale expanded steadily, the structure was continuously optimized, and the logistics efficiency continued to improve. The ratio of total social logistics costs to GDP dropped to the lowest level in history. The total national social logistics volume exceeded 368 trillion yuan, a year-on-year increase of 5.1% at comparable prices [1] - The central bank will continue to implement a moderately loose monetary policy, taking promoting stable economic growth and reasonable price recovery as important considerations [1] - On February 10th, the average cost of 76 independent electric arc furnace construction steel mills was 3,296 yuan/ton, a decrease of 62 yuan/ton from the previous day. The average profit was a loss of 52 yuan/ton, and the off-peak electricity profit was 14 yuan/ton [1] 3.3 Market Logic - As the Spring Festival approaches, winter storage is basically over, and both upstream and downstream are gradually on holiday. The spot trading of construction steel has reached a low point, and the market is mostly waiting for the recovery of demand after the festival [1] 3.4 Trading Strategy - Rebar rebounded rapidly after hitting the bottom at night. 3050 is still the key support level and is not easy to break through effectively in the short term. It is recommended to hold a light position or be out of the market during the holiday [1]