宝城期货螺纹钢早报（2026年4月1日）-20260401

1. Report Industry Investment Rating - Not provided in the content 2. Core View of the Report - The steel price is expected to continue its short - term oscillatory trend, with a focus on demand performance. The current reality is weakly stable, and the steel price will continue to oscillate [2][3] 3. Summary by Relevant Catalogs 3.1 Variety View Reference - For the螺纹2605 variety, the short - term view is oscillatory, the medium - term view is oscillatory, and the intraday view is slightly bullish, with an overall view of narrow - range oscillation. The core logic is that the current reality is weakly stable, leading to the continuation of the steel price's oscillatory trend [2] 3.2 Market Driving Logic - There have been changes in both supply and demand of rebar. Construction steel mill production is weakly stable, and rebar output has slightly decreased. However, the profit per ton of the variety is acceptable, so the supply contraction is not continuous, and the positive effect is limited. Meanwhile, rebar demand continues to improve seasonally, with a week - on - week increase in weekly apparent demand. But other high - frequency indicators perform mediocrely, and the downstream industries are weakly stable. The quality of the peak - season demand needs to be tracked. Currently, the energy logic is weakening, and the steel price is oscillating downward. In the situation of weak supply and increasing demand, the fundamentals of rebar are marginally improving, and there is cost support [3]