螺纹钢周度数据（20260213）-20260213

Report Title - The report is titled "Weekly Data of Rebar (20260213) - Futures Research Report" [1] Report Core View - The supply and demand of rebar continue to weaken, inventory has increased significantly, short - process steel mills have significantly reduced production, and the weekly rebar output has decreased by 225,200 tons month - on - month. The supply continues to shrink, but the high inventory level limits the positive effects. Attention should be paid to the resumption of production after the Spring Festival. The demand for rebar is also weakening, with high - frequency demand indicators at the lowest in the same lunar period in recent years, and the downstream industries are sluggish. The weak demand pattern remains unchanged, dragging down steel prices. The relative positive factors are the policy expectations after the Spring Festival. Currently, the situation of weak supply and demand before the festival remains unchanged, the fundamental contradictions of rebar continue to accumulate, inventory has increased significantly, and steel prices continue to be under pressure. The relatively positive factors are policy expectations and cost support. It is expected that the trend will continue the weak bottom - seeking situation, and focus should be on the inventory accumulation during the holiday and the resumption of production rhythm of short - process steel mills after the festival [14] Report Data Summary Supply - Weekly production is 1.6916 million tons, a month - on - month decrease of 225,200 tons, a decrease of 306,700 tons from the end of last month, and a decrease of 49,700 tons compared with the same period in the lunar calendar. The blast furnace capacity utilization rate is 86.41%, a month - on - month increase of 0.72 percentage points, an increase of 0.94 percentage points from the end of last month, and an increase of 1.77 percentage points compared with the same period in the lunar calendar [3] Demand - The apparent demand is 1.0191 million tons, a month - on - month decrease of 457,300 tons, a decrease of 744,900 tons from the end of last month, and a decrease of 150,000 tons compared with the same period in the lunar calendar. The weekly average of steel union building materials transactions is 34,900 tons, with no month - on - month change, a decrease of 32,500 tons from the end of last month, and a decrease of 31,400 tons compared with the same period in the lunar calendar [3] Inventory - The total inventory is 5.8682 million tons, a month - on - month increase of 672,500 tons, an increase of 1.1129 million tons from the end of last month, and an increase of 1.0361 million tons compared with the same period in the lunar calendar. The in - plant inventory is 1.6359 million tons, a month - on - month increase of 99,400 tons, an increase of 144,600 tons from the end of last month, and an increase of 268,700 tons compared with the same period in the lunar calendar. The social inventory is 4.2323 million tons, a month - on - month increase of 573,100 tons, an increase of 968,300 tons from the end of last month, and an increase of 767,400 tons compared with the same period in the lunar calendar [3]