宝城期货螺纹钢早报-20260326

1. Report Industry Investment Rating - Not provided in the report 2. Core Viewpoints of the Report - The supply - demand pattern of rebar is weakly stable, and steel prices will continue to fluctuate. The short - term, medium - term, and intraday trends of rebar 2605 are all in a state of shock, with the intraday being weakly shock. Attention should be paid to the support at the MA20 line [2][3] 3. Summary by Relevant Catalogs 3.1 Variety Viewpoint Reference - For rebar 2605, the short - term trend is shock, the medium - term is shock, and the intraday is weakly shock. The reference view is to pay attention to the support at the MA20 line, and the core logic is that the supply - demand pattern is weakly stable and steel prices continue to fluctuate [2] 3.2 Market Driving Logic - The supply - demand pattern of rebar has not changed much. Steel mills are actively producing, and rebar production has continued to rise and is at a high level this year, with limited inventory reduction and increasing supply pressure. Meanwhile, rebar demand continues to recover seasonally, with the weekly apparent demand increasing, but the high - frequency trading performance is average, and the downstream industries have not changed substantially, so the subsequent demand improvement space may be limited. Currently, rebar supply is rising while demand is also improving. Under the situation of both supply and demand increasing, the rebar fundamentals are weakly stable, and steel prices are under pressure. The relatively positive factor is that the cost still provides support. It is expected that the trend will continue to fluctuate, and attention should be paid to the production and sales data released by Steel Union today [3]